Summary: The Microcredit Summit Campaign welcomes the Food and Agriculture Organization of the United Nations (FAO) as the newest Campaign Commitment member, joining a global coalition to help 100 million families lift themselves out of extreme poverty.
Washington, DC – The Microcredit Summit Campaign welcomes the Food and Agriculture Organization (FAO), the leading organization within the UN system in the field of food and agriculture, as the newest Campaign Commitment member, joining a global coalition of organizations committed to specific, measurable, and time-bound actions to advance the Campaign’s goal of helping 100 million families lift themselves out of extreme poverty.
"Reducing extreme poverty requires coordination among different organizations to tackle the many constraints faced by the poor in order to lift themselves out of poverty. For this reason, FAO is thrilled to join the coalition convened by the Microcredit Summit Campaign, which will contribute significantly to make the work of all committed organizations more effective in achieving the goal they all share."
- Calvin Miller, Senior Agribusiness Finance Officer and Group Leader
FAO has launched a research initiative to identify and up-scale innovative financial arrangements that make inclusive agricultural investments feasible, with support from the Capacity Building in Rural Finance (CABFIN) Partnership. Leveraging on the vast field presence of FAO and its partners, the initiative will analyze and disseminate recent innovations in finance and risk management strategies developed by local actors to enable investments that benefit the rural poor. With 75 percent of the world’s poor living in rural areas and surmounting evidence that growth in agriculture is highly effective in reducing poverty, FAO’s Commitment to ensuring that inclusive agricultural investments are feasible is a key contribution to the global movement dedicated to reaching the end of extreme poverty.
Working towards this end, FAO has announced its Campaign Commitment as follows:
The Campaign looks forward to welcoming this new partner in the global coalition and sharing their progress towards the Commitment achievement at the 17th Microcredit Summit.
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 extreme poverty. The 100 Million Project (focused on Goal 2) was launched in response to World Bank President Jim Yong Kim’s call to end extreme poverty by 2030 and in recognition that full financial inclusion can only be achieved by targeting the extreme poor. The coalition of Campaign members announcing Commitments is aimed at motivating microfinance stakeholders to provide products and services that reach the extreme poor and facilitate their movement out of poverty.
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