Microfinance staff hone monitoring skills
Microfinance staff hone monitoring skills
Selected employees from 15 microfinance institutions (MFIs) are attending a training workshop to learn about the importance of performance monitoring as a tool for their daily management, decision-making and business planning.
The MICROFACT Training on performance indicators is being held from May 9-11 in Vientiane by the Microfinance Working Group for the Lao PDR (MFWG) in partnership with the Microfinance Training Centre and supported by BRS/ADA.
The main objectives of the training are: to gain a better understanding of the definitions, calculations and interpretations of commonly used and accepted performance principles and indicators; to enhance the skills and capacity of management in using and interpreting ratios, analysing financial trends, positioning themselves within the industry (benchmarking) and identifying key areas of risk to mitigate; to raise awareness about the benefits of transparency as an important condition to access internal and external sources of funding.
The workshop was opened by Director General of the Financial Institutions Supervision Department of the Bank of the Lao PDR, Dr Akhom Praseuth, and the Chairman of the Board of the MFWG.
The MFWG was established in May 2007 and aims to bring together microfinance practitioners and other relevant stakeholders to share experience and information about the sector with the goal to improve sector coordination, transparency, sustainability and quality of microfinance services. Its services focus on three core areas: capacity building, knowledge management and research and representation and advocacy.
MFWG members presently comprise 26 regulated microfinance institutions (Deposit-Taking MFIs, Non Deposit-Taking MFIs, Savings and Credit Unions, and Network Support Organisations) as well as donors, bi and multi-lateral agencies, INGOs, service providers and resource persons working in microfinance, to ensure exposure to global microfinance trends and developments and international sector representation.
vientiane times
