The Microfinance Promoter, a New Professional Figure to be Capitalized in ReSt@rts
The Capitalization project ReSt@rts- Reinforcing Med Microfinance Network System for Start-ups foresees the creation of the Technical Assistance for Microfinance Provider, aimed at improving the quality of microfinance institutions’ internal processes. It assumes that institutions can achieve greater efficiencies, and thus reduce costs, by investing in quality management information systems, technological improvements, and well-trained staff.
This activity capitalizes on the experience of “MEDSt@rts Microfinance Promoter” developed during the project MEDSt@rts - Med microfinance support system for start-ups, in which the Italian-Arab Cooperation Chamber was a partner.
The MEDSt@rts Microfinance Promoter is a new professional figure created within the project MEDSt@rts, after a dedicated training course in which 10 aspiring Microfinance Promoters for each of the five countries involved in the project (Italy, Greece, Lebanon, Palestine, and Tunisia) received high-level training on microfinance sector, institutions, and rules. The two best of them for each country were selected to work on the dedicated Help Desk project.
The Microfinance Promoters offered support and advice to new and/or aspiring entrepreneurs on how to access the microfinance instruments and counselling and navigate between the different public and private financing opportunities. The uniqueness of each individual user has led the Help Desk activities to be customized and tailored to each individual beneficiary according to the specific needs. The experience developed produced a good model of service worth to be transferred.
The good practices of the Microfinance Promoter will be transmitted in ReSt@rts through the Technical Assistance for Microfinance Providers, in which the know-how and experience developed will be offered directly to microfinance institutions to help them to acquire and internalize this service to be offered to new or aspiring entrepreneurs.