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Fondeo de microfinancieras

Fondeo de microfinancieras. Tom áš Hes Prague , 1 7th of May 2011. ONE OF 3 MAJOR OBSTACLES FOR PRODUCTIVE GROWTH OF DEVELOPING COUNTRIES IS….. LACK OF PRODUCTIVE CAPITAL . ABSURD DISPARI TY between the need and the availability

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Fondeo de microfinancieras

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  1. Fondeo de microfinancieras TomášHes Prague, 17th ofMay2011

  2. ONE OF 3 MAJOR OBSTACLES FOR PRODUCTIVE GROWTH OF DEVELOPING COUNTRIES IS…..LACK OF PRODUCTIVE CAPITAL

  3. ABSURDDISPARITY between the need and the availability • of capital • price of capital in • Europe / USA price of capital • in emerging markets • 2-5% p.a. • 7-20%p.a. • Capital is interested in projects in emerging • markets simply because of major yields.

  4. COMPARACIÓN DE PRECIO DE CAPITAL ENTRE MÉXICO Y OTROS PAÍSES Central bank interest rates Japan 0.5% Brazil 11.25% Egypt 8.75% South Africa 10.0% Canada 4.5% Australia 6.50% China 7.02% Hong Kong 6.75% India 7.75% Japan 0.50% Korea 5.00% New Zealand 8.25% Taiwan 2.88% Czech Republic 3.25% EMU 4.00% Norway 4.50% Sweden 3.75% Switzerland 2.50% United Kingdom 5.75% Turkey 17.50% United States 5.25% México 8%

  5. MICROFINANCE TOUCHES ALL MILLENIUM DEVELOPMENT GOALS 5

  6. New phenomenon of new milleniumSOCIALLY RESPONSIBLE INVESTMENT $2.71 trillion in total assets Each one in 9 dollars is related to SRI SRI increased by 18% entre 2005-2007, while other assets under professional custody increased only 3% However only 0.5% of SRI is channeled to microfinance Data from 2007 Report on Socially Responsible Investing Trends in the United States

  7. Sociallyresponsibleinvestments in 2007: $2.71 Trillion Social responsible investments represented 11% of $25.1 trillions under professional custody in 2007

  8. MIV Assets 2005-2009 Source: Microrate 2010 MIV Survey

  9. Microfinanceinvestments Source: DB

  10. Microfinanceinvestments Feweconomiesoutof 137 sample grouphavelegalprotectionsagainst unfair practices in financialsector Source: Financial Access 2010

  11. Microfinancedebtcharacteristics Source: CGAP 2010

  12. Microfinancedebtcharacteristics Structure of international microfinance funding in 2006 Source: MicroBanking Bulletin

  13. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  14. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  15. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  16. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  17. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  18. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  19. Microfinanceinvestmentvehicles Source: CGAP MIV Report 2010

  20. CAPITAL SOURCES ARE UNLIMITED

  21. Mayores mitos relacionados con el fondeo • faltan recursos • aunque no falten los recursos, mi empresa no tiene la capacidad de ser elegida • es cuestión de suerte • fondeo no es un proceso • fondeo es resultado de amistad con el fondeador • fondeador no tiene memória • importante es el volúmen, no estructura de fondeo

  22. Estrategia optimal de fondeo • nunca aceptar riesgo cambiario demasiado grande • balancear las fuentes • es preferente tener de muchas fuentes poco que tener de pocas mucho • siempre seguir buscando vinculos y mantener comunicacion • buscar fondeo a largo plazo • crear reservas de capital social como el unico capital seguro

  23. Whyisthere not more funding in microfinanceifthereisso much capital? • LACK OF INFORMATION • LACK OF INFRASTRUCTURE • PERCEIVED RISK LEVEL • LACK OF CONFIDENCE

  24. Who is myELEN.com? GENESISThe idea was conceived in 2006, after experience of one of the founders in Mexican microfinance. The inspiration was blatant disparity between price of capital in Mexico and Europe – linked with internet.

  25. Between years 2007-2011, Czech myELEN.com has proven its microfinance funding model, belonging to the first endeavors of its kind. myELEN.com is the only funding portal that intermediates investment funding through direct legally founded relationship between the investor & MFI. Today, the portal has managed to channel to 5 Mexican MFI´s cca. 1,000,000 EUR from cca 400+ private investors.

  26. Small amounts that make the BIG DIFFERENCE. Why not to link demand and offer through internet? Czech „e-bay“ of socially responsible investments

  27. IDEA ofmyELEN.com to fundmicrocredit on line instant accessthrough internet fromanywhere offerofselectedMFIs directchoiceofthedebtor peer to peer lending: thepoorindividualscan benefitfromwealthierindividualwholoan themdirectly

  28. EvolutionofmyELEN.com

  29. Shareholders of the project belong to important Czech economists and entrepreneurs. The IT structure of the project is based upon experience of creators of izip.com, system of electronic health records, which earned distinction of Project of e-Health the Year in European Union in 2005, currently with 2,000,000+ clients.

  30. EvolutionofmyELEN.com Stockcompany Microfinance a.s. owneroftheportal • 2006: Czech team of economists, bankers, entrepreneurs was formed. • In 2006 we thought we were pioneers! In late 2006 we discovered kiva.org • In the start of 2007, a stock company Microfinance a.s. and Microfinance Endowment Fund were established in Prague, with seed capital of 2,000,000 CZK • In 2007, Microfinance a.s. launched the portal myELEN.com in beta version (my Electronic Loan Exchange Network), built up by a subcontractor GEM International Ltd. Foundation MicrofinanceEndowmentfund complementary non-profit activities • myELEN.com was the first project of its kind in Europe.

  31. In January 2008, followed by a great attention of press, politicians, diplomats and NGOs, the portal was launched officialy.

  32. Howitworks • Two language mutations available • Deep analysis and finance control, site inspection • results in careful selection of the microfinancepartners promoted on the portal • Concrete photo and story about borrowers • Innovation: Electronic signature of contracts • Robust legal contracts debtor Investors Bank accountPrague Bank account MFI, Mexico debtor debtor

  33. Back office: non-automatedoperations • ocularcontrolofthecontracts • transfersofinvestmentsfromPragueaccount to • Mexico MFI account in packages • transfersofrepaymentsfromPragueaccount to • investor bank account • steadycommunicationwithMFIsandinvestors CZ + ENG • back office photoapplicants + investors • tax & audit for Microfinance a.s. + Microfinance Endowment Fund • communicationwith authorities • archiving

  34. PORTAL ENTRAILS portal www.myelen.com presents on the web photographs and description of: a) Individual applicants, clients of partner MFI b) Village banks, composed by clients of partner MFI c) MFI´s, that present on the web • their financial statements • founding charter • CV’s of top management • business plan • resolutions of the board The investor, physical person or institution, has the opportunity to select desired debtor according to sector, country and type of organization. Currently we offer three type of investment products in USD, EUR, CZK: a) investment with repayment of interest & capital after 12 months b) investment with repayment of interest quarterly and capital after 12 months c) investment with repayment of interest & capital quarterly in 12 months The interest rate to investors ranges from 2% p.a. to 8% p.a., according to the amount. Minimum investment is 300 USD, maximum is unlimited. The FX is in all cases born by the MFIs.

  35. Media andcelebritieswere on ourside….

  36. experience was getting collected… • EXPERIENCE MADE • In the beginning, MFIs take some time to master the technology, • but once the investment flow is steady, they collaborate well and with enthusiasm. • 80% of the small scale investors, once their investment is repaid, do re-invest, • increasing the amount. • The average funding amount hovers between 1,000 -2,000 USD • In general, Czech people have welcomed the concept and are keen to invest, even if small amounts, once they become acquainted with the portal.

  37. Política de fondeo e instituciones que les interesa apoyar1. MICROFINANCIERAS DE TAMAÑO MÉDIO, ONGS Y PRIVADAS 2. COOPERATIVAS - 3 años en el mercado - números negros - política de expansión conservadora - empresas consolidadas y con una fuerte política social

  38.  Experiencias1. números negros 2. expansión mesurada 3. buena combinación entre la administracion financiera y el impacto social 4. tamaño mayor a 15 mdp en portafolio 5. crédito grupal 6. capacidad de comunicación por internet rápida y interactiva 7. capacidad de aceptar pequenas inversiones de 1-2 k USD 8. aceptación de firma digital en los contratos + pagarés paralelamente

  39. Experiencia nos demostro que: 1. 80% los inversionistas privados reinvierten 2. la confianza se construye entre inversionistas privados y la IMF paso a paso 3. la capacidad de manejar a la tecnología es un proceso en la IMF 4. tardanzas y falta de comunicación lleva a perdida de inversionistas 5. el inversionista privado prefiere saber la verdad de que dar vueltas y sabe remunerar esta capacidad

  40. Thanks for your attention Myelen.com 40

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