The Kashf Foundation, a Pakistani nonprofit providing microfinance services and advocacy on social issues, won the seventh European Microfinance Award last night for its support of private schools that serve students from low-income families. In addition to financing the schools, Kashf provides training in areas ranging from classroom management to human resources. The organization also assists with hygiene strategies, as most schools in the country lack water and toilets.
As of 2016, the program had disbursed 850 loans to schools serving 150,000 students, 75 percent of whom were female. As of 2015, Kashf reports total assets of PKR 7.01 billion (USD 66.9 million) and a microloan portfolio of PKR 4.36 billion (USD 41.6 million).
The annual European Microfinance Award, which includes a cash prize of EUR 100,000 (USD 106,000), is jointly organized by the Luxembourg Ministry of Foreign and European Affairs – Directorate for Development Cooperation, the European Microfinance Platform (e-MFP) and the Inclusive Finance Network Luxembourg, with the support of the European Investment Bank.
The Eighth European Microfinance Award, which is to be presented in 2017, will be on the theme of housing microfinance.
This story is part of a sponsored series on European Microfinance Week, which is being held through November 18 by the European Microfinance Platform (e-MFP), a 124-member network located in Luxembourg. MicroCapital has been engaged to cover the event on-site.
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