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MicroFinance Network was founded in April 1993 by participants at a meeting focused on microenterprise development, hosted by BancoSol in Bolivia.
Microenterprise practitioners from around the world gathered to review the steps taken by PRODEM, a Bolivian non-governmental organization (NGO) to create Banco Solidario, S.A., the first Latin American private commercial bank solely dedicated to serving the microfinance market. During the conference, participants explored some of the major challenges faced by the NGO PRODEM as it created a regulated financial institution. Some of the key challenges discussed included: gaining acceptance by employees and management of a radically new organizational structure, raising capital from outside investors, and negotiating with regulators and supervisors new to microfinance.
At the end of the conference, participants agreed that the dialogue had been beneficial and should continue - thus created the MicroFinance Network. MFN members further defined their common goals and objectives, while establishing specific membership selection criteria.
Through a shared vision and commitment to success, MFN members have challenged one another to set an example for the finance and development communities by working to become successful and sustainable microfinance institutions in their respective countries and regions. An emphasis was placed on creating institutions that would be fully self-sufficient and would have access to commercial financial markets to fund their growth.
MFN has now grown to include most of the leading microfinance institutions from around the world.
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About MFN 
