FWA Microfinance Initiative

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Executive Leadership Training for Women Microfinance Leaders Worldwide

Lenore C. Albom

The FWA’s tradition of women helping women finds enthusiastic expression in our ongoing support for microfinance. This initiative continues the legacy created by Lenore Albom, a former FWA President, who introduced the FWA to the power of microfinance before her death five years ago. Microcredit offers a viable way to help women without access to financial services, and the FWA’s initiative, emphasizing executive leadership training for women working in microfinance organizations around the world, both helps women in developing nations support themselves and their families and advances the FWA’s mission of developing women leaders in the field of finance.

We are urging our members and friends to help the FWA raise $10,000 in funds that will enable two promising women working overseas to attend week-long Executive Leadership training programs in the United States.  See instructions for contributing for this important initiative.

For a second year, the FWA is partnering with Women’s World Banking (WWB) and ACCION, pioneers in Executive Leadership training for women microfinance leaders. Wharton and the Harvard Business School have developed special training programs for WWB and ACCION, respectively. These week-long programs bring the most promising women working in microfinance organizations worldwide to the United States for training.

The FWA sponsored three women last year from Tanzania, Pakistan and India. They all reported back on their experiences:

Shimimana Ntuyabaliwe
Operations and Business Development Manager
PRIDE Tanzania:

“As a woman manager in a management team of six, the challenges of proving in the man’s world are immense. This course has enabled me to gain a lot of new ideas and innovative ways to serve the poor more efficiently and effectively. The strategic leadership course has definitely provided me with more confidence and zeal in my current position as Head of Operations and Business Development. I see high potential in myself to rise to higher ranks within my institution and in the industry at large.”

Shazia Kamal
Regional Manager
Kashf Foundation, Karachi, Pakistan:

“Since the time of my workshop, I was convinced that networking and constant interaction is what will really attract and retain women workforce and in due time develop leadership worthy of emulation. For one, my interaction with the female staff really increased and I have made it a point to visit and discuss issues with women on a one to one basis. We now meet every month religiously and talk and chat over a cup of tea! I also make it a point to do a cross learning exercise and tell them about shared experiences in other areas.”

Junia Musuku, Manager for Planning at Share Microfin Limited (SML), India:

“It was indeed a valuable experience that refreshed and promoted a proliferation of varied thoughts and ideas. With the involvement of brand names like HBS and ACCION, the course was professional, succinct, and effective. It provided a safe platform to discuss emerging issues and learn through sharing of one another’s experiences and perspectives. It was a unique experience where microfinance practitioners could think “out of the box” and focus on general management concerns through case studies from diverse fields and situations …During the year, I have been offered an exciting and challenging opportunity to take up the position as the Managing Director of Jacinth Finvest Limited (JFL).”

To further this initiative, we need your help! You can participate in the Lenore C. Albom Microfinance Giving Program, which was established in 2006 as a special annual opportunity to make individual contributions in support of microfinance organizations. Please help us raise $10,000 by June 30th in order to sponsor two women microfinance leaders.

Instructions for Contributing:

FWA Individual Contributions: Checks should be made out to “FWA of New York Educational Fund*” with “FWA Lenore C. Albom Microfinance Fund” in the memo field. They should be sent to the FWA Office: FWA of New York, Inc. 215 Park Avenue South, Suite 1713 New York, NY 10003 Also, check to see whether your firm has a corporate gift matching policy that will enable your gift to go further. *Contributions to the FWA of New York Educational Fund, a 501(c)(3) charitable organization, may be considered as a tax deductible donation.

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Background
The FWA’s support for microfinance began when the late Lenore Albom, an FWA past president, went with a group from the International Alliance of Women (TIAW) to Guatemala in June 2001, where TIAW opened the third of what was to be a long line of village banks around the world. With Lenore’s encouragement, FWA and its members began to provide financial support and to seek more information on this international development movement. The FWA’s efforts currently focus on three areas:

Organizing Programming
In the past four years, the FWA has organized several important programs with the leaders of the microfinance industry, participating actively in the UN’s Year of Microfinance in 2005. Our next event, on June 12th, 2008, will present distinguished speakers on the growth of microfinance and microinsurance.

Volunteer Opportunities
These activities, in turn, have helped members’ interests expand even further into areas of fundraising and volunteer assistance using their professional knowledge and talents. Our most recent event, in April 2008, focused on specific programs in which members can contribute their talents and financial expertise.

Financial Support
Through funds raised at the time of Lenore’s death in 2003, we provided financial support for a major microfinance institution, Women’s World Banking (WWB). An FWA delegation in 2005 visited ADOPEM, the WWB affiliate in the Dominican Republic, to see first hand how this institution was benefiting.

In 2006, the FWA established the Lenore C. Albom Microfinance Giving Program as a special annual opportunity to make individual contributions in support of microfinance organization(s) that are selected by the directors of the FWA Educational Fund. Funds will be collected this month, and disbursed by the end of the FWA’s fiscal year on June 30. The contributions will be directed only to U.S.-registered microfinance organizations. This year, we will support two scholarships for the most promising women working in the WWB and ACCION organizations world-wide, who will be brought to the United States for specialized leadership training.