“Effective microfinance depends on effective training, which should involve business simulation games,” argued Michael Kortenbusch, Managing Director of Business & Finance Consulting, speaking at the second annual German-Moldovan forum for SME finance in Chisinau, Moldova on October 25, 2011.
“Simulations enable lending staff to better link theoretical knowledge with their day-to-day work.” Mr. Kortenbusch made his remarks while chairing the panel on “Education and training of bank staff and management—key to successful SME financing.”
At the same event, BFC’s Senior Credit Advisor, Vera Labzina, held an interactive presentation on BFC’s use of simulations as part of its trainings worldwide. “Learning is a constant and continuous process,” she said. “With BFC classroom training you are guaranteed consistency, continuity, speed, and efficiency, with high quality results.”
The forum took place under the TRANSFORM program of the German Federal Ministry of Finance and Federal Ministry of Economics and Technology, and was organized in cooperation with KfW Entwicklungsbank. Bringing together more than 120 representatives of banks, MFIs, international donors, and consultants, the German-Moldovan forum identified high interest rates and collateral requirements as the main issues restricting the supply and demand of SME financial products in Moldova.