Bye Bye Brussels

Okay, the first speed bump in my personal Microfinance action plan has arrived.

I have to leave Belgium and say goodbye to the European Microfinance Program -- half way through.

I will spare you most of the boring details, but suffice to say that Belgium has a reputation for its bureaucracy and national immigration is a classic example. Anderlecht, the local municipality in Brussels in which I resided, failed to extend my student visa in time for Christmas. As a result, if I was to return to the program in January, 2007, there would be a risk -- albeit small -- that my reentry would be denied.

It is disheartening to leave, yes . . . but not exactly the end of the world.

Here's why.

1) I received a sound theoretical introduction to the field of Microfinance, receiving exposure to no less than 8 professors/lecturers in the three months I was there.

2) I made contact with experts. For example, Professor Marc Labie was encouraging and enthusiastic. Professor Loïc Sadoulet was also responsive.

3) I met some very interesting and motivated classmates. Over time, this could prove to be the richest resource of all.

What's next?

I will return to Canada for the Christmas season, spend time with my family (Mother, Father, Sister and her family) and contemplate my future and what is next in my "personal journey into the world of Microfinance."

"When one door closes, another opens, but we often look so long and so regretfully upon the closed door that we do not see the one which has opened for us."
-- Alexander Graham Bell

Microfinance is Hard

Microfinance is trendy.

Microfinance is sexy.

Microfinance is popular.

BUT . . . Microfinance is anything but easy.

In fact, according to Professor Loic Sadoulet, "Microfinance is HARD."

Professor Sadoulet paints a bleak picture for someone like myself who is thinking of jumping into the field head first. The numbers speak for themselves. According to Professor Sadoulet, in a universe of more than 10,000 Microfinance Institutions (MFIs) worldwide, only a relative handful (100-200) are self-sustainable. Only 1 - 2 % of all MFIs can support themselves independently!

The vast majority -- the other 98% -- require handouts (grant money, foundation money, government money, etc.) to keep operating.

Interestingly enough, this is not unlike what Professor Marc Labie had to say in his course earlier in the program. In fact, he went as far to say underinformed Microfinance donors and philanthropists can actually cause more harm than good.

So, what's a keen Microfinance neophyte like myself to do? Should I give up and focus my energies elsewhere? Does Microfinance belong on the "Good idea, but . . . " shelf?

Hmmmm.

Not just yet.

Sometimes jumping in head first is what one has to do.