The 2009 Annual Conference of the Microfinance Council of the Philippines, Inc. carried the theme Understanding the Crisis: Gearing for Recovery. Many discussions have been going around about the global financial crisis and how it is affecting local economies. The conference shed more light on the nature and causes of this crisis, recognizing that a better understanding of the problem will help people formulate appropriate responses and solutions to the problem. The conference was held at the Century Park Hotel, Manila on May 12 – 13, 2009.