The Global Microcredit Summit

The Point Loma Nazarene University contingent at the global Microcredit Summit held in Valladolid, Spain from November 14-17 had a wonderful time joining almost 2,000 participants from close to 100 countries for a great time of learning and networking. The initial purpose for PLNU's involvement was the presentation of a commissioned paper at a workshop entitled "How can Microfinance contribute to restoring dignity and transforming lives in urban slums?" The paper was co-authored by Rob Gailey and Rebecca Harver and Rebecca is doing a Spanish translation of the paper as part of an honors project for her senior year.

The workshop included a summary of the paper and then presentations by an esteemed panel of leaders of organizations doing microfinance in urban slums. The panelists were from organizations operating in Uganda, India, Kenya, and Turkey. Several audience members were from practitioner organizations as well, including from organizations operating in South Africa and the Philippines. Needless to say, there was a lot of wisdom in the room as we discussed ways that microfinance can be leveraged for those who suffer from difficult living conditions in urban slums.

In addition to the workshop there were outstanding plenary sessions where we heard from world leaders and leading practitioners in and donors of microfinance initiatives around the world. Even leaders of the business world shared. The CEO and President of Danone, headquartered in France, spoke of his company's partnership in Bangladesh with Grameen Bank to get low-cost, highly nutritious yogurt to children living in poverty so as to improve their health. The partnership is a unique approach to a "social business" which is a no-dividend, no loss profitable company, where all profits are poured back into the company's mission.

 

We also heard from Nobel laureate, Dr. Muhammad Yunus, who shared about his discussions with Reebok/Adidas that have led them to create a shoe for under two dollars that can be sold to poor people around the world in a similar social business approach. The Queen of Spain also shared her personal and her country's support for microfinance around the world.

 

PLNU students/alums were well represented at the Summit. MBA alum and current MBA Program Assistant Lalaine Beltran and current senior Spanish major Rebecca Harver, served as volunteers for the global Summit. Both women did a great job volunteering and were commended by the Summit for their work. 

A highlight for the ladies was getting to meet and talk privately with Queen Sofia of Spain and Professor Muhammad Yunus. Pictures of these special meetings are attached and perhaps one of them will write up their story of their time in Spain.

Rob also participated in a one-day workshop at the end of the Summit on poverty measurement tools used in  microfinance to track how poor people are when initially being served by an organization. The organizations can also use these tools to "track" movement out of poverty by these families over time. Rob is looking to use some of these tools to help child sponsorship programs, particularly the one operated by Nazarene Compassionate Ministries, track the families of sponsored children.

We had a wonderful time in Spain and we are thankful for a great learning and networking experience.

Contributed by Professor Rob Gailey