EUROPEAN MICROFINANCE WEEK 2010

The 3^rd European Microfinance Award on “value chain finance” focuses on stimulating and promoting inclusive financial schemes that contribute to the evolution of value chains in developing countries. The idea is to support project development from the initial inputs through to the commercial outputs, enhancing the livelihoods of people at all levels of the value chain.  

 

The award involved a rigorous three phase selection process: in the first phase a Selection Committee from the European Microfinance Platform produced a short list of ten candidates. From this list, three Award finalists were selected by the Luxembourg Round Table on Microfinance.

 

The winner was then chosen on the 30^th November by a High Jury and was unveiled as Harbu Microfinance Institution, Ethiopia in a ceremony hosted by the European Investment Bank. Her Royal Higness the Grand Duchess of Luxembourg, known for her staunch support to microfinance, presented the award and the 100,000 euro prize. Mr. Philippe Maystadt, President of the EIB, described the Bank’s ongoing commitment and activities in this area. In a video address, the European Development Commissioner  Mr. Andris Piebalgs noted that “value chain finance is a powerful illustration of the role of multiple stakeholders achieving a lasting impact on socio-economic development at a local level”