Center of Studies in Microfinance (CEMIF)

Coordenador: Prof. Dr. Lauro Gonzalez  

The Center for Studies in Microfinance (CEMIF) is an entity linked to the Getúlio Vargas Foundation, formally created in June 2007, with the purpose of producing knowledge in the area of microfinance and financial inclusion. The Center’s mission is to promote reflection, analysis and knowledge production, create strategies and propose institutional changes for the microfinance industry, using financial inclusion and local development as its guiding principles.

The future vision pursued by the CEMIF is a national benchmark in microfinance studies and financial inclusion, being recognized as a center of excellence in the formulation and realization of research, strategies and microfinance-related initiatives, with international inclusion, contributing towards promoting financial inclusion and local development.


The path between executing the mission and making the desired vision of the future real is driven by the following objectives:

· Develop applied research for the microfinance topics;

· Attract international research institutions and provide support to guide investors’ interest towards Brazil;

· Cooperate to train active human capital in the microfinances industry;

· Disseminate knowledge related to the industry and disseminate public and private interest in microfinance;

· Uphold the adherence of microcredit institutions to the best business practices and best models of corporate governance;

· Support the consolidation of regulatory milestones that best meet the interests of industry agents; and support the expansion of new business models in keeping with the reality of each Brazilian region.


The CEMIF team is made up of FGV (EAESP and EESP) graduate professors and students and other institutions, such as EACH-USP. Some of the CEMIF’s noteworthy international partners are HEC-Montreal, Columbia University and the University of Notre Dame.


For additional information, please contact us at (+55 11) 3799-7772, or by e-mail or visit the GVCEMIF website.