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 22 – 23 December, 2003, New Delhi
MicrofinanceIT
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Olivier Allais
Asia Director of PlaNet Finance,
sums up the discussion |
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For an industry as nascent as microfinance, the opportunity to explore new technology to both improve and augment its operations prove both irresistible as well as challenging. And, like any new direction, there are considerable doubts and concerns about adapting ICT in this field too. PlaNet Finance, along with i4d organised the first of a three part series of seminars pertaining to microfinance and ICT in Delhi on December 23 – 24, 2003 at the India Habitat Centre. Out of the subsequent seminars, one has been held at Beijing on January 12, 2004, and the last is due for Brussels on February 9, 2004.
The seminar saw over twenty leading microfinance institutions who had come all the way to share as well as obtain an understanding of what ICT could do for them. Likewise, several players from the ICT sector, notably, technology developers and providers obtained a clearer and objective view of what opportunities the microfinance sector provides for them.
In the inaugural address, Shri L Laxminarayanan, additional secretary, Department of Information Technology, Government of India highlighted how the Indian software industry have registered an export growth from 20 million USD to 12 billion USD in about 10 years – effectively, a growth of 31% since 2000. Already the industry comprises 30% of total exports from India. By 2008 it is expected to reach about 60 billion USD (McKinsey Global, survey commissioned by NASSCOM and Ministry of Information Technology).
In further addresses, representatives from the organisers hoped that the seminar would highlight real issues in term of poverty alleviation and ICT, as well as identify the real players. While government and other donors provide funds, NGOs play an equally important role in working at grass root level and towards empowering the poor. The number of NGOs has increased tremendously over the past decades. Many of these have not been successful in their objectives and some have even deceived their supporters. It is therefore essential that the partners with the right motives be found.
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