The MFPN is an alliance of institutions committed to supporting disadvantaged people in the Pacific, to improve their quality of life through the provision of inclusive and sustainable financial services such as savings, credit, remittances and payment services and insurance. The Network was formally launched on the 16th and 17th of June 2006 in Port Vila and is registered as a charitable association in Vanuatu, with the secretariat hosted by The Foundation for Development Cooperation.
The Microfinance Pasifika Network was formed in response to key constraints facing practitioners at the time, including small, dispersed and isolated populations and a relatively young industry with limited experience of microfinance practice elsewhere in the world.
In this context, one of the primary objectives of the Network is the dissemination of relevant information to assist practitioners and supporters of microfinance operations to increase outreach and enhance performance.
The Microfinance Pasifika Network is distinct from other networks for three main reasons:
- It is an exclusively Pacific-based network;
- It capitalises on the diversity represented within the membership; and
- It acts as an information hub for all stakeholder groups.
MFPN has held a number of successful events and engaged in activities which have helped to bring together practitioners and stakeholders in meaningful ways, contributing to developing the microfinance sector in the Pacific.