MANILA, PHILIPPINES (October 14, 2013) – Friday concluded a groundbreaking Microcredit Summit in which 17 microfinance institutions, technology firms, investors, and other institutions—leaders in their respective fields—made bold Global Commitments to take specific, measureable, and time-bound action to help 100 million families lift themselves out of extreme poverty.
Global Commitments are designed to pursue two key strategies for ending poverty. The first is to promote broader use of reliable and accurate poverty measurement tools so that practitioners can more clearly identify their level of poverty down-reach and better target their services to intended client groups. The second is to facilitate practices that lead to movement out of poverty through learning, product and service development, creating cross sector partnerships, targeted investor and donor funding, and building ways to better serve poor clients and meet their needs for the journey out of poverty. In addition, 160 institutions and individuals wrote their commitment to help end poverty on the Summit Commitments Wall.
Earlier in the week, Amando Tetango, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), addressed the 850 Summit delegates from 71 countries. “It is my personal wish to see every Filipino productively contributing to, and reaping the benefits of a robust economy. This vision also underlies the policy and regulatory actions of the Bangko Sentral ng Pilipinas. We endeavor to maintain price stability, safeguard the soundness and efficiency of the financial system, at the same time provide an environment that enables every citizen, especially the poor, to access appropriate financial services including microcredit. Now is the time for all of us in the public and private sectors to work more closely together as partners in achieving high productivity and economic growth that translates into better lives.”
Nobel Peace Prize laureate Muhammad Yunus announced the Yunus Centre’s Commitment to support social business around the world. “We have the ability to end poverty in the world,” Prof. Yunus declared. “We just need to come together and use our creative power. Initiatives from citizens and social business can make this happen.”
Among the elements key to the Yunus Centre Commitment, is the promise to help create, finance, and expand more than 50 social businesses across all continents and in at least 20 countries by the end of 2014. Also announcing Commitments at the 2013 Partnerships against Poverty Summit were PKSF (Bangladesh), Smart Communications’ IGNITE Forum (Philippines), Child & Youth Finance International (Netherlands), AGFUND (Saudi Arabia), and the Microfinance CEOs Working Group (consisting of ACCION, FINCA, Freedom from Hunger, Grameen Foundation, Opportunity International, Pro Mujer, Vision Fund, Women’s World Banking)—and a dozen more.
In addition, the 2013 Summit served as the venue to recognize the first seven Truelift “Milestone Microfinance Institutions” (MFIs). CAURIE MF (Senegal), Banco FIE (Bolivia), Negros Women for Tomorrow Foundation (Philippines), Finca Peru, Microfund for Women (Jordan), Small Enterprise Foundation (South Africa), and Cashpor (India) have made measurable progress toward positive client outcomes, as measured along Truelift’s Pro-Poor Principles, and provide the data and the evidence that microfinance is fully capable of creating positive and enduring change for people living in poverty. Truelift is a Trustmark that signifies a commitment to positive and enduring change for people living in poverty, in microfinance and beyond.
John Hatch, founder of FINCA International, helped close the conference with a declaration adopted by Summit delegates that “extreme poverty can and will be ended by the year 2030,” saying that “getting out of poverty isn’t something we do—it’s something they [clients] do—and it’s our job to help make that as easy as possible.”
For more information on the 2013 Summit, visit: http://partnershipsagainstpoverty.org/
The Microcredit Summit Campaign (the “Campaign”), a project of RESULTS Educational Fund, is the largest global network of institutions and individuals involved in microfinance and is committed to two important goals: 1) reaching 175 million of the world’s poorest families with microfinance and 2) helping 100 million families lift themselves out of severe poverty. The Campaign convenes a broad array of actors involved with microfinance to promote best practices in the field, to stimulate the exchange of knowledge and to work towards alleviating world poverty through microfinance.
In partnership with the Microfinance Council of the Philippines, Inc. (MCPI), the Campaign is organizing the 2013 Partnerships against Poverty Summit October 9 – 11, 2013, in the Philippines.
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