Boulder Institute of Microfinance

Pancho Otero is recognized the world over as one of the foremost authorities in the start up and development of Micro Finance Institutions (MFIs). Currently, Otero is the Director of IPM (the Spanish initials stand for Micro Enterprise Policy Institute), a private company created in 1996, based in Bolivia, and dedicated to MFI startups, development, and upgrades, as well as institutional transitions.

IPM's area of special expertise are the techniques and methods that MFIs need in order to reach systematically and in a sustainable manner, the base of the social pyramid, or what is known as subsistence micro enterprises. Otero's expertise comes from field work, from hands on experience in micro credit operations. He is best known as the creator of BancoSol, in 1990 in his native Boliva, which at the time was the first private, fully commercial MFI anywhere.

In the early 90's BancoSol quickly became a world wide model for sustainable micro credit to the smallest and most precarious micro enterprises. Otero was BancoSol's first CEO and ran the Bank for five years during which time it achieved a portfolio of over 72 000 clients; (US$ 50 million), with an impeccable repayment record. Under Otero's leadership, BancoSol became the most profitable regulated financial institution in Bolivia.

Already in the previous decade, under the auspices of ACCION, Otero had established PRODEM, an MFI that pioneered a zero arrears- zero write offs model. Today PRODEM is the largest MFI in Bolivia. Otero has served as a Multilateral Advisor, having advised UNDP and UNCDF's MicroStart program and UNCTAD (Geneva) since the late 1990s. Otero also has given courses on various micro finance topics on behalf of The World Bank Institute; Colcami (Anahuac University, Mexico); FIPED, (Harvard University's Micro Credit Training Program ); CCIDE (Peoples Replublic of China); the Boulder MFT Program, as well as training on many MF topics to a wide array of local training Institutions trough out the world.

In addition, Pancho Otero and IPM have designed, implemented and managed the start up operations of many MFIs, some of the more recent ones have been, Fondo 5 de Mayo, Fundachiapas, and Credisol of Mexico; Solidario del Hipotecario of El Salvador; Sao Paulo Confia of Brazil; Jamicro of Jamaica; and FIS / El Ceibal of Argentina. Over the years since the creation of IPM, Otero and the IPM team have developed a Strategic Planning model ideally suited for MFIs. This model has been implemented in a wide variety of institutions including Banca Etica of Italy; ProDesarrollo of Mexico, several institutions in Central America, Prefeitura de Sao Paulo, (Sao Paulo Confia) of Brazil, and many MFIs in Bolivia.