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    Weathering the Storm

    30.10.2020

    Weathering the Storm

    The 29th of October 29 2020 is marked as the European Microfinance Day (EMD), which was launched in 2015.

    The aim of the European Microfinance Day is to raise awareness of the role and importance of microfinance in Europe and the world, as well as its value in the fight against unemployment, social and financial exclusion.

    The slogan of this year’s Microfinance Day is “Weathering the Storm”. On this occasion, a number of online events will be organized, among which the virtual event “BRUSSELS (online) EVENT” will take place, and it will be addressed by the Chairman of the Board of Directors of EMN and MFC, the Director of the OECD, representatives of the European Investment Bank Group, EU Parliament, etc. As part of this event, there will also be an awards ceremony for 17 microfinance institutions for the award of “European Code of Good Conduct”.

    The Association of Microcredit Organizations in BiH – AMFI, as well as its members are members of two international networks EMN – European Microfinance Network and MFC – Microfinance Center, with the support of which the European Microfinance Day is being implemented.

    Due to the impact of the COVID-19 pandemic, economic activities throughout Europe and the world, as well as in Bosnia and Herzegovina, are increasingly being limited. The microfinance sector in BiH as well as throughout the world has shown resilience through joint actions during the new crisis, showing sensitivity and openness to its clients who now, more than ever, need easy, fast and responsible access to finance for their activities and households. Our clients are self-employed and micro-entrepreneurs who do not have access to traditional sources of funding, and they have also been affected by the pandemic. The joint actions of all participants: international micro-networks, micro-credit organizations, regulators and associations have ensured continuity and the necessary support to all clients.

    Because, as the EMN Director General, Jorge Ramirez, says: “Thanks to the economic activity provided by microfinance, it serves as a reminder to the general public of the strong social impact and a great way to remind policymakers that public money invested in the microfinance sector leads to positive results.”

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