VisionFund Cambodia hosts Leadership School

VisionFund Cambodia, a leading microfinance institution (MFI) part of VisionFund International (VFI)’s microfinance network operating in 47 countries, is hosting the VFI 8th annual Leadership School on Sept 15-26 to discuss, debate and engage on the topic of microfinance.

“We choose Cambodia [to organize the conference] because VisionFund Cambodia is one of our best MFIs….So we want to recognize the wonderful work that [VisionFund Cambodia Executive Director Omseng] Bora and his team have done,” VFI President Scott Brown said in an opening speech.

Omseng Bora regards the conference as both organizational and national pride, saying: “I am very proud not only of VisionFund Cambodia, but also of the nation of Cambodia, because we have performed well in microfinance among VFI members.”

VisionFund Cambodia, with a mission to help the poor liberate themselves from poverty, offered loans of US$16 million to nearly 70,000 families mostly residing in poor rural communities by June of 2008. It is the fourth largest MFI, in VFI’s global microfinance network, which is serving roughly 600,000 people with loan portfolio of nearly US$ 400 million worldwide.

VFI, based in California, the United States, was founded by World Vision International as a microfinance subsidiary in 2003 thanks to extensive experience testifying that aid and microfinance must work together for economic development and poverty alleviation. With only aid, World Vision would leave the poor with little when phasing out of a community, because they did not learn to become self sustainable.

“Many years ago, World Vision realized that if they did not have economic development [driven by microfinance] in place, they would not be able to leave development areas with a sustainable future,” Brown says.

During the Leadership Conference, VisionFund and World Vision leaders and stakeholders including Mrs. Dunker-Pierce, the daughter of World Vision founder Bob Pierce, are discussing such issues as governance, partnerships, VisionFund identity, strategic management, business planning, commercial borrowing, donor funding, and technology implementation.

Omseng Bora says the discussions are great opportunities to share positive experiences that will be applied to streamline microfinance services to serve the poor better, thus contributing to national development in Cambodia and the remaining countries where VFI operates.

“Good experience we have gained will be used within our institution and will become services…that will respond to the need of our clients in rural areas,” says Bora, who continues to profoundly thank VisionFund Cambodia staff for their endeavor to make the institution a more prominent member of the VFI’s global network.