MICROCAPITAL BRIEF: PlaNet Finance, China Microfinance Institution Association (CMIA) Seek to Strengthen Risk Management
PlaNet Finance, an NGO based in Paris, France, recently announced a partnership with the China Microfinance Institution Association (CMIA), a trade group of microfinance institutions (MFIs), to enhance risk management in the microfinance industry in China. PlaNet Finance will support CMIA by building risk management resources for microcredit companies and monitoring companies’ performance. CMIA will cosponsor forums about the role of specialized microfinance ratings, and it will bestow awards to recognize microcredit companies that exhibit risk management practices deemed exemplary. This partnership is part of the Microfinance Capacity Building Initiative, an initiative of Swiss bank Credit Suisse that provides grants and technical support for MFIs in the areas of financial and human resources.
The mission of PlaNet Finance is to alleviate poverty through microfinance. It is active in approximately 80 countries as of 2012. CMIA was established in 2011 and aims to be a platform for the discussion of latest industry topics and innovations for MFIs in China.
By Juan Blanco, Research Associate
About PlaNet Finance
Founded in 1998 in Paris, France, PlaNet Finance is a nongovernmental organization (NGO) with the mission of alleviating poverty through microfinance. PlaNet Finance
is active in approximately 80 countries as of 2012 and is comprised of nine for-profit and nonprofit units: PlaNet Finance Advisory Services, which provides technical and advisory services; Planet Rating, a microfinance rating agency; PlaNIS responsAbility SAS, which specializes in advisory services and structuring and managing microfinance funds; MicroCred, an investor in microfinance; PlaNet Guarantee, which specializes in microinsurance; FinanCites, a social venture capital company; PlaNet University, a microfinance training provider; and MicroWorld, an internet-based platform allowing the public to make small loans for the benefit of microentrepreneurs.
About China Microfinance Institution Association (CMIA)
China Microfinance Institute Association was set up in China in 2011 by a group of the country’s microfinance institutions in an effort to create a platform for the discussion of latest topics and innovations in the industry and to contribute to the improvement and sustainability of the microfinance industry in China.
Sources and Additional Resources
 PlaNet Finance Microfinance Risk Management Blog, “PlaNet Finance Announces New Strategic Partnership with China Microfinance Institute Association,” April 2014, http://www.planetfinancechina.org/blog/planet-finance-announces-new-strategic-partnership-china-microfinance-institute-association
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/Source: www.microcapital.org
Category: Payday loans