Kolkata, 12 February 2024: The Association of Microfinance Institutions – West Bengal (AMFI-WB) is set to host the 8th Edition of the Eastern India Microfinance Summit 2024 in association with M2i, Equifax, MFIN & Sa-Dhan. Scheduled for 22nd February 2024, the summit will commence at 9 AM at the Biswa Bangla Convention Centre, HIDCO, New Town, Kolkata, under the theme “Empowering the Poor: Microfinance as a Catalyst for Sustainable Development.”
A press conference held at the Kolkata Press Club saw the participation of key figures including Dr. Alok Misra, CEO & Director of MFIN; Mr. Kuldip Maity, MD & CEO of VFS Capital Ltd and Secretary of AMFI-WB; Mr. Manoj Nambiar, MD of Arohan Financial Services Ltd.; Mr. Kartick Biswas, MD of Uttrayan Financial Services Pvt. Ltd., and other representatives of AMFI-WB, who briefed the media about the summit.
The event anticipates the attendance of over 400 leaders and senior officials from microfinance institutions (MFIs) including NGOs, NBFCs, SFBs, BCs, and banks operating in West Bengal, Odisha, Jharkhand, Bihar, and the North Eastern States. With over 60 MFIs expected from Eastern India, the summit aims to convene national and global stakeholders, lenders, investors, and practitioners to deliberate on the current and future landscape of financial inclusion, highlighting the pivotal role of microfinance in fostering sustainable societal development.
Delegates from Bangladesh and Nepal, along with representatives from banks, regulators, ratings agencies, fintech and IT companies, insurance firms, researchers, scholars, students, energy providers, social enterprises, mobile banking and core banking solution providers, industry associations, donor agencies, multilateral institutions, and international agencies are also expected to participate.
Microfinance stands as a potent instrument in driving sustainable development, with its multifaceted impact on poverty alleviation, financial inclusion, entrepreneurship, job creation, and gender equality. By democratizing access to capital, microfinance empowers marginalized communities and promotes economic participation, contributing significantly to poverty reduction efforts.
Moreover, microfinance plays a pivotal role in promoting gender equality by providing women with access to financial services, thereby enhancing their economic agency and social empowerment. This year’s summit aims to address pressing issues facing the microfinance sector, with a focus on enhancing its impact and effectiveness in driving sustainable development.
Established as a self-regulatory organization in 2010, AMFI-WB is dedicated to promoting and developing microfinance in West Bengal. With a membership of 48 microfinance institutions, banks, fintech, IT, insurance, health service providers, and software companies, AMFI-WB caters to approximately 79 lakh poor women, providing them with financial services, particularly microcredit. The organization conducts stakeholder meets, management development programs, seminars, workshops, and member meetings to foster collaboration and drive positive change in the microfinance landscape.
The 8th Eastern India Microfinance Summit 2024 promises to be a platform for meaningful discussions, collaborations, and insights aimed at advancing the microfinance sector’s role in creating a more inclusive and sustainable future for all.
