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Have you signed the Global Appeal for Responsible Microfinance?

by on Nov 5, 2012  |  posted in Uncategorized  |  0 Comments
Last month, during the Convergences 2015 World Forum in Paris, microfinance leaders unveiled the “Global Appeal for Responsible Microfinance,” a call for microfinance stakeholders to take concerted action to ensure a strong and principled microfinance industry.
 
The Global Appeal marks an opportunity for the microfinance industry to come together, with one voice, to support responsible microfinance and to commit to a higher standard.
 
In recent years, the microfinance industry has made significant strides to advance responsible practices that protect and appropriately serve clients. However, the Global Appeal expresses the need for a more united, deliberate effort to be taken by stakeholders at all levels, including microfinance professionals, investors, and policymakers, to ensure the continued success of the industry. By signing the Appeal, supporters not only endorse a set of principles and standards for microfinance, but they also pledge to make measurable, time-bound plans for improving their own practices.  Signatories are called to announce their plans by the end of December 2013.
 
The publication of this document represents a collaboration between two organizations that have sought to improve practices of the microfinance industry: Convergences 2015 and the Microfinance CEO Working Group.
 
Convergences 2015, a network of organizations committed to achieving the Millennium Development Goals, released an earlier version of the document, known as “The Paris Appeal,” in Spring 2011.  This appeal outlined the need for fundamental principles in microfinance and received extensive support, with endorsements from 1,500 individuals and 500 organizations.  This renewed Appeal recognizes the recent achievements of the industry and seeks to motivate stakeholders to further action.
 
The Microfinance CEO Working Group expressed a similar perspective when it called for higher standards in its “Road Map for the Microfinance Industry” in January 2012.  The Working Group, comprising the leaders of Accion, FINCA International, Freedom from Hunger, Grameen Foundation USA, Opportunity International, Pro Mujer, VisionFund International (World Vision’s microfinance arm), and Women’s World Banking, seeks to support the positive evolution of the microfinance industry at large.
 
 We encourage you to read the document for yourself and disseminate it among your networks and stakeholders: www.appeldeparis.org.  You can also find us at the SEEP 2012 Annual Conference – stop by our table!

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