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Explorer After Hours #27: Capital Markets and the Crisis
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Date Added: 10-31-2008
Date Modified: 02-25-2009
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Mini Series on the Global Financial Crisis' Impact on Microfinance
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photo: Martin Holtmann of IFC and Monica Brand of ACCIONThe first session in the USAID Microenterprise Development office's mini-series on the impact of the current global financial crisis on microfinance institutions and their clients: "Capital Markets and the Crisis" took place at the offices of QED Group LLC in Washington D.C on December 10, and simultaneously as a webinar in order to enable remote participation. Eliza Erikson of Calvert, Monica Brand of ACCION, John Wasielewski of USAID/ODC and Martin Holtmann of IFC discussed the effects the current financial crisis is having on capital markets, and the opportunities the situation might offer for the field to reassess its strategy.

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photo: Martin Holtmann of IFC, Monica Brand of ACCION, Eliza Erikson of Calvert Foundation and John Wasielewski of USAID/ODC.>> Speaker bios
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Speaker bios:

Martin Holtmann
heads the Microfinance Group in the IFC’s Global Financial Markets Department, with a client portfolio consisting of over 90 MFIs and $800 million in outstanding commitments. Before joining the IFC, he was Lead Financial Specialist at CGAP, where he managed their cooperation with commercial banks and their activities in the technology area. Earlier Martin worked for twelve years in management at IPC, a firm specializing in microfinance consulting and management services. From 1995 through 2001 he was the Moscow-based director of the EBRD Russia Small Business Fund, a program that has extended over US$ 3 billion to MSMEs. Martin taught Finance and Personnel Economics at University of Trier for two years, and has been a faculty member of the Boulder Microfinance Training Program since 1996. He is the author of several publications on micro and small business finance and on the design of staff incentive schemes and ESOPs. He holds Master’s degrees from Trier University (Business Economics) and Harvard (Public Administration).
 
Eliza Erikson, Microfinance Portfolio Manager, is responsible for the management and growth of Calvert Foundation's international microfinance portfolio. Under her direction, that portfolio has grown from $10 million to over $55 million in loans and equity investments outstanding. She has also worked with the Corporation for Enterprise Development and USAID, providing management consulting and investment services to development finance institutions in the US, Latin America, South Asia and North Africa. In addition, she designed and implemented a microfinance program at a community development corporation in the central highlands of Guatemala. Eliza earned a Masters in Public Policy (M.P.P.) with concentrations in finance and program evaluation from the John F. Kennedy School of Government at Harvard University. She is a member of the Board of Directors and Finance Committee of the I Do Foundation.
 
Monica Brand, Principal Director of ACCION Global Investments, has spent her career in the financial services and social enterprise sectors, expanding and enhancing the range of financial services available globally at the base of the pyramid.  Monica currently manages the Gateway Microfinance Innovation Fund, whose mandate is to invest in early stage companies providing new products and services that promote breakthroughs in financial inclusion.  Earlier, Monica launched and ran ACCION’s Marketing & Product Development Unit, working with ACCION’s affiliates in Latin America and Africa in the development and roll-out of insurance, programmed savings, and remittances. She has supported market research and marketing strategy of various bank downscaling projects, including ACCION’s work with ABN Amro in Brazil and Banco Columbia in Argentina. Monica serves on numerous boards including Compartamos Bank in Mexico, Paralife Holdings, Pay Rent Builds Credit and the DC Employment Justice Center.  She holds an MBA and an M.A. in Education from Stanford University, a B.A. in Economics from Williams College, and is an adjunct professor at Johns Hopkins School of Advanced International Studies.

John Wasielewski, Director of USAID’s Office of Development Credit (ODC), began his career with USAID in the late 1970s as a Special Assistant to the Administrator and then as a loan officer in Thailand. John left USAID in 1981 to work on marketing and new business development for Westinghouse and later established his own business development and investment firm in Los Angeles. As a private consultant, he worked with USAID in South Africa on their Housing Guaranty program, as well as with UNICEF in Namibia and with USAID’s mission in West Bank/Gaza. In 1998, John returned to USAID full time to establish and direct the ODC activities. The office promotes and administers Development Credit Authority (DCA) activities which advance US Government efforts to support local private sector lending for economic growth, infrastructure finance, and other revenue producing development activities. To date, DCA has issued guarantees that have mobilized approximately $1.6 billion in 60 countries around the world.
Presentation File Capital Markets and the Crisis_Dec. 10, 2008.pps 2.35 MB
Publication Month 12
Publication Year 2008