Application period for the European Microfinance Award 2017 on Microfinance for Housing now open
The European Microfinance Award is a prestigious €100,000 award which attracts applications from financial institutions around the world that are innovating in a particular area of financial inclusion. Presented annually, it serves two parallel goals: rewarding excellence, and collecting and disseminating the most relevant practices for replication by others.
The 2017 Award "Microfinance for Housing" is intended to highlight the role of microfinance in supporting access to better quality residential housing for low income, vulnerable and excluded groups, with no or limited access to housing finance in the mainstream sector. It aims to recognize institutions that respond to complex housing needs of their target clients by providing them with a variety of financial and non-financial services. This response significantly contributes to improving housing conditions, including:
- home purchase or expansion of existing living space to meet the needs of growing families,
- providing access to clean water, sanitation, electricity, and other core housing needs,
- raising overall house quality by providing access to better quality materials and construction techniques, as well as securing tenure and protection against eviction,
- mitigate against natural disasters by using resilient construction design and materials and locating housing outside flood zones and other vulnerable sites.
The Applicants should demonstrate good understanding of the housing context in which they operate and their target clients' housing needs. They are expected to provide an appropriate response to clients' needs in the form of financial services, possibly accompanied by non-financial services, through a strategy that ensures long term sustainability of the programme.
The prize will be presented on 30 November 2017 in Luxembourg in the framework of the European Microfinance Week.
To learn more about the topic see our blog Launch of European Microfinance Award 2017 on Microfinance for Housing and NextBillion's blog Home Sweet Home: Mobilizing Microfinance for Housing
To apply and for further details (including Explanatory Note with eligibility criteria), visit the European Microfinance Award website
Closing date is 22nd May 2017, 23:59 pm CET
Our video Why the European Microfinance Award? explains more about the aims and benefits of the Award: