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Session Summary: Sector Drilldown Expanding Mochtar Riady Auditorium, 14:10, 9 May 2013 (Conference Day 1) Michael Fernandes

Leapfrog Investments (Moderator) Ross Baird Village Capital Geoff Woolley Unitus Impact Christopher Tan Grameen Foundation, Asia

Financial

Inclusion

Ross Baird begins with introducing Village Capital and provides examples of enterprises that are working to enable financial inclusion. Examples include Kitabu, Simpanetworks and Sanchayan. He expresses that one of the biggest problems in addressing financial inclusion is the need to re-orient risk tolerance for these financial inclusion enterprises. Village Capital is working to address the problem by providing business development support for many social enterprises and acting as incubators for next generation of financial inclusion companies. Geoff Wooley provides an overview of Unitus Impact, which concentrates its efforts on three areas to tackle poverty precarious livelihoods, limited access to capital, affordable housing. He then provides examples of disruptive supply chain businesses that expand financial inclusion such as Ruma, MicroBenefits and Kinara. Christopher Tan of Grameen Foundation Asia talks about the unintended consequences of microfinance, that results in heated competition in densely populated areas, but little service coverage for rural areas. He expresses that a new business model is needed to address this problem and that there must be a way to leverage mobile technology to find a solution. Question & answer discussions touched upon the following issues: - Looking beyond microcredit to other areas of financial inclusion, such as access to information and access to quality goods and services; - Leveraging the role of disruptive technologies, such as mobile phones in alleviating poverty and expanding financial inclusion; - The interaction between philanthropy and the business chain, such as using grants to mitigate the risks of starting social enterprises; - The gap in the market for SME lending and the challenges associated with this subsector; - The role of cooperatives and their challenges.