Caribbean MicroFinance Alliance members certified

Friday, July 26, 2013

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TWENTY-FIVE credit officers from several Caribbean microfinance institutions (MFIs) have been certified to deliver financial literacy training to their clients, following completion of a three-day Financial Education Training of Trainers workshop under the Caribbean Capacity Building Microfinance Project II "CARIB-CAP II".

CARIB-CAP II which is jointly funded by the Multilateral Investment Fund (a member of the Inter-American Development Bank Group), European Commission, Citi Foundation and the Caribbean Development Bank and managed by a Jamaican-based consultancy firm, Development Options Ltd, aims to create a more developed microfinance industry in the English-speaking Caribbean by improving their financial performance and outreach and fostering a knowledge-sharing eco-system for MFIs in the region.

The Financial Education "Train the Trainers" workshop, held in Kingston from July 17-19, 2013, was implemented by the Caribbean MicroFinance Alliance (CMFA), a CARIB-CAP II project beneficiary. MFI credit officers from Jamaica, Belize, Dominica, Suriname, Grenada, St Lucia, Guyana and Trinidad & Tobago, were trained to deliver financial literacy training to their clients to help them to be more financially responsible and to take greater advantage of the financial services available to them.

Speaking at the certificate ceremony for the training programme at the Courtleigh Hotel & Suites on Friday, July 19, 2013, Mrs Michell Scott, Operations manager for the CMFA said that "these credit officers have completed their training and now armed with the Financial Education Toolkit provided to them, are fully equipped to assist in the training of over 7000 clients regionally."

Scott said that "it is anticipated that improved financial literacy will result in enhanced financial decision making and well-being, better management of loan repayment and reduced indebtedness as well as more effective use of financial services".


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