MICROCAPITAL BRIEF: “Paris Appeal for Responsible Microfinance” by Convergences 2015 Reaches 600 Signatories

Convergences 2015, a nonprofit based in France that focuses on poverty elimination, is promoting the “Paris Appeal for Responsible Microfinance” in an effort to slow the commercialization of microfinance, arguing that it is inconsistent with development and inclusive finance. Initially presented at the 4th annual Convergences 2015 Forum in May 2011, the appeal has attracted 600 organizations and individuals as of January 2012 to agree to abide by a code of conduct that includes adapting products and services to the needs of poor people, encouraging “moderate” interest rates and maintaining “the highest standards” of information transparency and client protection. Members of the public may view the list of signatories or endorse the appeal at http://www.appeldeparis.org/.

By Ariana Malushi, Research Associate

Sources and Additional Resources

[1] Information submitted to MicroCapital by Convergences 2015, January 2012

MicroCapital.org Article, January 26, 2012, “MICROCAPITAL BRIEF: Microfinance CEO Working Group Issues Road Map for Microfinance Industry Promoting Smart Campaign, Microfinance Transparency, Social Performance Task Force,” https://www.microcapital.org/microcapital-brief-microfinance-ceo-working-…

MicroCapital.org Article, “MICROCAPITAL EVENT: Fourth Annual Convergences 2015 – Working Towards the Millennium Development Goals, Paris, France, May 3-5, 2011,” https://www.microcapital.org/microcapital-event-fourth-annual-convergences-2015-–-working-towards-the-millennium-development-goals-paris-france-may-3-5-2011/

MicroCapital.org Article, “MICROFINANCE EVENT: Convergences 2015, Conference to Design Road Map for Microfinance In Next Decade, May 25 to May 26, 2010, Paris, France,” https://www.microcapital.org/microfinance-event-convergences-2015-confere…

Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/

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