How to Stay Current on Microfinance

How does one attempt to stay on top of all of the day-to-day developments in the world of Microfinance? How does one remain current without spending an inordinate amount of time browsing the Web?

I have a solution. Google Alerts.

Google Alerts are e-mail updates of the latest relevant world news based on your choice of topic.

Everyday (usually), I receive an e-mail with a couple of recent Microfinance headlines, like the following recent example:

Microfinance eyed as powerful tool vs poverty
Philippine Information Agency - Philippines
... Even with the impressive gains of microfinance in terms of the number of clients and amount of loans released, President Arroyo stressed that the war against ...

In a couple of seconds, I can tell if the headline warrants further reading.

I have been pleasantly surprised by the breadth of the service. I receive "hits" from all over the world on a daily basis. It's an excellent and free way to remain abreast of developments in the field.

Highly recommended!

TIP: I set up two alerts, one for "Microfinance" and another for "Microcredit."

Education Required

I am not naive enough to believe that business in the developed world will easily translate to business in the developing world.

And no, reading all the Microfinance articles on in the Internet will not suffice.

I want to do this project right; and "right" means solid training in advance.

What are my options? I could immediately immerse myself in a research project. I could look for some volunteer opportunities, to gain experience in the field, or . . .

Better yet, I could get accepted by the European Microfinance School (EMP). The program is one year in duration, debuted last year, and looks most promising. Mr. Gabriel Merli, the Academic Coordinator, has convinced me that the EMP will provide me with a solid theoretical grounding in Microfinance. Moreover, part of the program is a mandatory field Internship. PERFECT!

I sent my application on 9 May 2006 for the session that commences in September, 2006 in Brussels. (The deadline to apply is 31 May 2006.) Mr. Merli advises that I will learn in June if my application has been successful.

In the meantime, I will cross my fingers and continue with my Spanish classes here in Costa Rica.

My Microfinance Action Plan

I have put together the following action plan:

1. Learn Spanish – Costa Rica (November 2004 – Current)
2. Theoretical Foundation in Microfinance – European Microfinance Program - Brussels/ Wageningen (September 2006 – March 2007)
3. Microfinance Internship (May 2007 – September 2007) – Latin America. Exact location to be determined.
4. Research / Doctoral Studies (September 2007 – September 2010) – London, London School of Economics. (Note: The institution is subject to change.)
5. Microfinance Institution Launch: 2011.

Welcome to my Microfinance Journey

I am recently retired from an entrepreneurial lifestyle.

For the most part, my life until this point has revolved around my business endeavours (e.g. coin-operated games, Internet marketing) - with a little travel and education thrown in along the way.

The world has been kind to me and I've made up my mind that it is time for me to give back.

That was the easy part. The difficult part was to decide how. After some considerable soul-surfing, I've settled upon Microfinance. My goal is to have my own Microfinance Institution by the time I reach 50 - which is December 8, 2011.

I know what you're thinking. "That's more than four years away!" Perhaps, I should change the name of my website to "MicrofinanceInFiveYears.org" from the current "MicrofinanceNow.org." :)

In any event, in this blog, I will be documenting my journey through my studies, work projects and any material intervening events (good and bad) - leading up to my goal.

Thanks for stopping by.