May 06, 2020

Round 1 of EMA 2020 on Savings Receives Record 70 Applications from 37 Countries

Round 1 of the European Microfinance Award 2020 on ‘Encouraging Effective and Inclusive Savings” has closed with a record number and range of applicants — an astonishing and welcome result considering the pressures financial services providers around the world are facing right now. More than ever, vulnerable populations’ access to quality savings products is going to be critical in mitigating the consequences of Covid-19 on households and businesses, and we are delighted to not only see so many applications, but to see specifically how these organisations are ensuring their innovative savings initiatives are helping clients.

We received 70 applications from 37 countries – easily a record – representing a diverse set of provider types and with operations in all regions of the world. The two pie charts show the distribution by organisation type and region of operation, with Sub-Saharan Africa, Latin & Central America and South Asia the most represented.

The evaluation team now begins the considerable task of carefully reading and evaluating these 70 applications, after which point some will be invited to complete the more detailed Round 2 application form, hoping to be put forward to the Selection Committee which meets in the Autumn to choose the finalists.

All Round 1 applicants will be contacted by the end of May, including those being invited to proceed to Round 2.

We would like to express our sincere thanks to all those organisations that applied. We understand the particular challenges they face right now, and the importance they place on their clients’ needs – especially access to effective and inclusive savings. 

More information on the Award   

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