Thursday, 17th November saw the long-awaited ceremony at the European Investment Bank for the European Microfinance Award 2016 which was won by Kashf Foundation of Pakistan. The Award of €100,000 granted by the Luxembourg Ministry of Foreign and European Affairs – Development Cooperation and Humanitarian Affairs is jointly organised by the Ministry, the European Microfinance Platform (e-MFP) and the Inclusive Finance Network Luxembourg (InFiNe.lu).
Kashf Foundation’s program involves loans to low-cost private schools, along with pedagogical training for teachers to improve teaching practices and specialised school management courses for school owners to improve the school infrastructure and their financial and operational administration. Since 2014, Kashf has worked with approximately 1000 schools, serving over 150,000 students.
The two other finalists Fundación Génesis Empresarial of Guatemala and Opportunity Bank Uganda Ltd., were recognised respectively for their higher education finance program, and multi-pronged approach, helping schools and families with financial and non-financial services.
Congratulations to all three organisations!
Blog: European Dialogue "Investing in Tomorrow" Presents Best Practice from Around the World on Microfinance & Access to Education
European Dialogue No.11 - Microfinance and Access to Education: Investing in Tomorrow
European Microfinance Award 2016 Brochure
Press release: Kashf Foundation, winner of the 7th European Microfinance Award "Microfinance and Access to Education"
For more information on the finalists visit the European Microfinance Award website
Article e-MFP Autumn Newsletter: European Microfinance Award candidates down to three finalists!
For more background on the topic Microfinance and Access to Education, see our blog
See NextBillion's blog The Most Powerful Weapon for Changing the World: How Microfinance Institutions Can Increase Access to Education