The objective of the 5th European Microfinance Award on Microfinance and the Environment is to highlight opportunities for microfinance to improve environmental issues in the South and encourage the industry to find innovative solutions for global environmental concerns.
The Award of €100,000 from the Luxembourg Ministry of Foreign and European Affairs – Development Cooperation and Humanitarian Affairs was presented on the 13th November 2014, during European Microfinance Week. The Award is aimed at institutions that are integrating environmental governance into the DNA of their business and that are promoting initiative(s) that go above-and-beyond business as usual to incorporate environmental sustainability issues. For more information on the Award see the Explanatory Note
26 applications from 19 countries were received and went through a rigorous evaluation procedure. Selection of the 10 best applications, based on a transparent set of indicators was made by a First Selection Committee of e-MFP members. These 10 applications were then further evaluated by a Second Selection Committee from the Inclusive Finance Network Luxembourg (InFiNe) who nominated the 3 finalists.
ESAF Microfinance and Investments (India), Kompanion Financial Group (Kyrgyzstan) and XacBank LLC (Mongolia) are the three finalists of this year's Award. The winner - Kompanion was chosen and announced in the Award ceremony on 13th November hosted by the European Investment Bank, held in the framework of the European Microfinance Week.
To read the press release click here
To read the brochure presenting the 3 finalists and their initiatives click here
To read the European Dialogue featuring the ten organisations shortlisted for the 2014 Award and their projects click here
Read more about Kompanion Financial Group and its initiative:
Read more about ESAF Microfinance and Investments and its initiative:
Read more about XacBank LLC and its initiative:
Video credit: Inclusive Finance Network Luxembourg
Visit the European Microfinance Award website