Microfinance Study Center (GVcemf)

The Microfinance Study Center (GVcemf) was created in June 2007 and was created specifically to contribute to the expanding microfinance activities in Brazil. The concept of microfinance is connected to the provision of financial services to low-income populations who are usually left out of the traditional financial system. Microcredit is a part of this concept and has been an important tool for social inclusion in many countries. In Brazil however, it is estimated that the potential demand would not be fully covered by the current volume of microcredit operations.

Mission and Objectives
With the mission to serve as an entity oriented towards reflections, analyses, understanding, and the creation of strategies and proposals for institutional change in the sector, GVCemf's objectives are to:

- Carry out research on microfinance topics; attract international research institutions and support investors' interests in Brazil;
- Contribute to training human capital in the microfinance sector;
- Disseminate knowledge related to the sector and promote a public and private interest in microfinance;
- Support microcredit institutions' adhesion to the best business practices and corporate governance models;
- Support the consolidation of regulatory framework that better serves the interests of the sector’s agents, and support the expansion of new business models in line with the reality of each Brazilian region.

Main Research Lines

• From Microcredit to Microfinance
• New Business Models/Methodologies
• AExpansion of Legal Framework.

Research Projects

- Banking Correspondents in Brazil ("The expansion of microfinance through banking correspondents: Are we reaching the poor?")
- IMF Expansion in Northeastern Brazil and the fight against poverty
- Assessment of the impact made by Production Oriented Microcredit
- Research project being appraised with resources donated by Banco Itaú
- The role of banking channels in using information and communications technologies (ICT) to improve microcredit: learning from the Brazilian experience.
- Research project being appraised with resources donated by a Canadian entity

Research Projects

• Expansion of potential microfinance and market institutions - Research project carried out with resources donated by Planet Finance

Events and Lectures

- FGV-SP: VIII Society and Sectors. June 10, 2008. Topic: Microcredit challenges. Mediator: Prof. Lauro Gonzalez
- Hotel Meliá - São Paulo: Seminar on Low End Profitability. May 8, 2008. Lecture delivered by Prof. Lauro Gonzalez
- Stanford University: Current Outlook of Microfinance in Brazil. Lecture delivered by Prof. Lauro Gonzalez in the Center for Latin American Studies on April 30, 2008
- China: 2008 Peking University International Academic Conference on Personal Credit Systems. March 7-8, 2008. Lecture delivered by Prof. Lauro Gonzalez
- FGV-SP and HEC Montreal joint organization of “Workshop on Correspondents and Microcredit.” March 6-7, 2008. Event organized by Prof. Eduardo Diniz.

Courses

Creation of specialization course on GV-PEC program called 'Microfinance, microcredit and financial services for low income'

Other

Participation in proposal to obtain resources from Fundação Gates (Joint participation with FGV Junior Company) and American Life

Team

- Prof. Lauro Gonzalez (coordinator)
FGV-EAESP Professor of Finance
PhD in Company Economics from FGV-SP
Fellow at the Microfinance Management Institute (MFMI), sponsored by World Bank and the Open Society Foundation in 2005
Visiting scholar at the Center for Brazilian Studies - University of Columbia (USA) in 2004

- Prof. Eduardo Diniz (researcher)
Visiting scholar at HEC Montreal in 2007
PhD in Administration from EAESP-FGV in 2000
FGV-EAESP Professor since 1999
Visiting scholar at the University of California, Berkeley from 1996 to 1998
Master's in Administration from EAESP-FGV in 1994
Electronic Engineering degree from EESC/USP in 1983

- Prof. Caio Cícero de Toledo Piza (researcher)
Researcher-Professor of Economics at Universidade Presbiteriana Mackenzie/SP
Master's in Applied Economics - UFRGS
On-going Doctorate at São Paulo School of Economics (EESP/FGV-SP)

- Prof. Martin Jayo (researcher)
Economist from the FEA-USP with a Master's in Communications Sciences from ECA-USP
On-going Doctorate in Company Economics from FGV-SP
FGV-EAESP Professor since 2008
Fipe-USP Researcher from 1995 to 1998
Product Manager at Agência Estado Ltda (O Estado de S. Paulo) from 1998 to 2004

- Roberto Vilela (researcher)

Degree in Business Administration from USP
Master's in Public Administration and Government from FGV-EAESP
He has worked in microfinance since 2001 and is a specialist in the strategic and operational planning of microfinance institutions and in implementing credit methodologies individually and in solidarity groups.
He has carried out projects for: ABCRED, Banco do Povo – Crédito Solidário, Planet Finance - Brazil, São Paulo and Guarulhos, Banco do Povo –Crédito Solidário, among others.

- Victor Mattos (resident)
Undergraduate in Business Administration from EAESP/FGV
Internship at Unicamp's Innovation Agency and Innovation Institute in the area of technological innovation management

- Cintia Kawasaki (resident)
Undergraduate in Public Administration from FGV-SP
Internship at the FGV-SP Technological Incubator of Popular Co-ops (ITCP)

Contact
Phone: (11) 3799-7772
E-mail: cemf@fgv.br 

Areas of interest
- Finance
- Microfinance
- Microcredit
- Microinsurance