MICROCAPITAL BRIEF: Mutual-Aid Credit Cooperative for Private Farmers of Bulgaria Among Finalists for $69k 6th Giordano Dell’Amore Microfinance Good Practices Europe Awards

Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, in partnership with the European Microfinance Network (EMN), a Belgium-based nonprofit organization, recently announced three finalists for the Sixth Annual Giordano Dell’Amore Microfinance Good Practices Europe Award, a series that recognizes initiatives that promote financial inclusion as a tool for development.  The theme for this edition of the awards is “employment – challenges and opportunities for microfinance.”

The finalists are; (1) the Association for Self-Funded Communities, an organization that promotes saving groups in Spain, for its proposed “self-funded communities together with small entrepreneurship to fight poverty”; (2) the Association pour le Droit a l’Initiative Economique, a France-based microfinace organization, for its proposed “Adie Social Microfranchising Initiative, which aims to provide turnkey business models to low-income entrepreneurs; and (3) the Mutual-Aid Credit Cooperative for Private Farmers of Bulgaria for its “Melon Field” loan product, which aims to assist gypsy communities in developing agricultural businesses. The Gaztenpresa program of Spain, an initiative that supports small business development in the autonomous regions of Navarre and Basque Country, was awarded an honorable mention for its microfinancing model within a banking institution [1].

The winner of the Giordano Dell’Amore Microfinance Good Practices Europe Award will receive a cash prize of EUR 50,000 (USD 69,100) at the eleventh edition of the European Microfinance Network annual conference which is scheduled to take place June 19 to 20, 2014, in Lisbon, Portugal. Savings House Moznosti, a microfinance institution (MFI) in Macedonia, was the winner of 2013 Giordano Dell’Amore Microfinance Good Practices Europe Award.

By Chikondano Faith Chisala, Research Associate

About European Microfinance Network (EMN):
The European Microfinance Network (EMN), a non-governmental organization based in Belgium, aims to promote microfinance, and financial inclusion in the European Union. As part of this work, it supports the building of legislative and regulatory frameworks that support the microfinance market. The European Microfinance Network has 99 members and partners located in 21 European countries as of 2013.

About Fondazione Giordano Dell’Amore:
Fondazione Giordano Dell’Amore is an Italy-based foundation that was established in 1967. It was formalized under Italian law in 1977 by Cassa di Risparmio delle Provincie Lomabrde, an Italian state-owned bank. As of 2013, the foundation’s mission is to catalyze Italy’s resources in support of the microfinance sector in both industrialized and developing countries. The foundation is a member of Rete Italiana di Microfinanza (RITMI), the Italian microfinance network, and is associated with the European Microfinance Network (EMN), a Belgium-based NGO that promotes microfinance and self-employment. Financial information on Fondazione Giordano Dell’Amore is not available.

Sources and Additional Resources:

[1] Giordano Dell’Amore Microfinance Good Practices Europe Award Website, “Award,” http://www.fgda.org/en/activities/europe-award/index.aspx?m=53&did=1308

MicroCapital, May 6, 2013, “European Microfinance Network (EMN) to Host 10th Annual Conference on Innovative Microfinance Solutions in Europe, June 25-26, 2013, Stockholm Sweden,” https://www.microcapital.org/microcapital-event-european-microfinance-network-emn-to-host-10th-annual-conference-on-innovative-microfinance-solutions-in-europe-june-25-26-2013-stockholm-sweden/

MicroCapital, January 22, 2013, “Fondazione Giordano Dell’Amore, European Microfinance Network Announce Fifth Edition of $67k Giordano Dell’Amore Microfinance Good Practices Europe Award,” https://www.microcapital.org/microcapital-brief-fondazione-giordano-dellamore-european-microfinance-network-announce-fifth-edition-of-67k-giordano-dellamore-microfinance-good-practices-europe-award/

MicroCapital, December 1, 2011, “Fondazione Giordano Dell’Amore, European Microfinance Network Announce Giordano Dell’Amore Microfinance Good Practices Europe Award,” https://www.microcapital.org/microcapital-brief-fondazione-giordano-dell%E2%80%99amore-european-microfinance-network-announce-giordano-dell%E2%80%99amore-microfinance-good-practices-europe-award/#more-15830

MicroCapital Universe Profile, European Microfinance Network (EMN), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Microfinance+Network+%28EMN%29

MicroCapital Universe Profile, Fondazione Giordano Dell’Amore, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fondazione+Giordano+Dell%27Amore

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Chikondano Faith joined MicroCapital after holding various rolse at a commercial bank, where she improved and diversified her skill set by exploring many banking functions including: trading, treasury management, credit analysis and business development. She developed an interest challenges faced by entrepreneurs in emerging economies after taking up a small business development and entrepreneurship course during her undergraduate studies at the University of Pretoria in Pretoria, South Africa. She holds also Masters degree in Strategic Management from the University of Derby, her independent study topic focused on strategies to support Small and Medium Enterprises (SMEs) in Malawi. In working with MicroCapital, she hopes to expand her knowledge of microfinance and to use this internship as a foundation to pursue a career in micro and developmental finance. Chikondano Faith enjoys travel, drawing, jazz music, and improving her French during her spare time.