PlaNet Finance China Hosted Lecture with Jorge Kleinberg Druker

On Thursday, October 29, 2009, PlaNet Finance China held a lecture with Jorge Kleinberg Druker, Director-General of the Mexican microfinance institution (MFI) Te Creemos at Luce Bar in Beijing. Although only four years old, Te Creemos has become one of the well-regarded MFIs in Mexico due its innovative microfinance operations, specifically in its partnership with the Mexican drug-store chain Farmacias del Ahorro. Te Creemos uses Farmacias del Ahorro’s network of over 600 outlets to process micro-credits all across Mexico. In addition, Te Creemos soon will begin using a point-of-sale (POS) fingerprint recognition system with its clients, which will mean financial transactions will no longer require a computer. These distribution systems have enabled Te Creemos to access and serve the most isolated markets and provide integral services to populations that were previously un-banked. From the beginning, Jorge Kleinberg Druker and the other founders had an ambitious yet clear vision for Te Creemos; while utilizing this technology implementing this model required significant upfront investment and work, it has allowed Te Creemos to rapidly expand without infrastructure issues and grow into its capacity. As of March 2009, Te Creemos operates in 11 of 32 Mexican states and serves approximately 25,000 clients. 

All proceeds from the event went to the family of the late Mr. Yang, a local renewable energy pioneer from Gansu province.