MICROCAPITAL.ORG STORY: Social Fund For Development and UNDP Meet To Establish Microfinance Network In Yemen

It was recently reported in the Yemen Observer [1] that a microfinance network or trade association will be established in Yemen with a view to promoting best practices, good governance and accountability in the country’s growing microfinance sector. A meeting was held by the Social Fund for Development (SFD) [2] and the United Nation Development Program (UNDP) [3] to select the board of directors for the network and to deal with preliminary matters. The report in the Yemen Observer stated that the establishment of a microfinance network is ‘an integral part of the national strategy to develop the microfinance industry’ in Yemen and that the network will focus on providing the technical assistance, increasing the abilities of MFI officers as well as setting up and supporting a centre for exchanging information, experiences and techniques within the Yemeni microfinance industry.

Prior Microcapital.org publications on microfinance in Yemen have been set out in the Bibliography section below [4], [5], [6], [7], [8].

Among the principal aims of regional and country-level networks are to enable microfinance practitioners to discuss methodologies, build common performance standards and influence government policy to facilitate the growth of MFIs. Links to various microfinance networks and associations around the world can be found on the Global Development Research Centre (GDRC) website [9]. Previous Microcapital.Org publications on other microfinance networks have been set out in the Bibliography section below [9], [10], [11].

By Chinq Yee Chong, Research Assistant

Bibliography

[1] Article in the Yemen Observer entitled ‘Yemen microfinance network to be established’: http://www.yobserver.com/business-and-economy/10017167.html

[2] Social Fund for Development: www.sfd-yemen.org/

[3] UNDP: www.undp.org/

[4] MICROCAPITAL STORY: Microfinance as a solution to unemployment in Yemen

[5] MICROCAPITAL STORY: Yemen’s Social Fund for Development (SFD) to Serve 100,000 Entrepreneurs Through Microfinance Programs

[6] MICROCAPITAL STORY: GTZ Provides Microfinance Training to Participants from the Central Bank of Yemen in Anticipation of New Microfinance Law

[7] MICROCAPITAL STORY: Yemen to Establish Microfinance Banks

[8] PRESS RELEASE: UN and Social Development Fund to Establish Microfinance Network in Yemen

[9] MICROCAPITAL STORY: Citi Foundation Creates USD 11.2mn Program with SEEP Network to Strengthen Trade Associations

[10] MICROCAPITAL STORY: Citigroup, the Foundation for Development Cooperation (FDC), and the Banking with the Poor Network (BWTP) Oversee Program to Advance Microfinance Partnerships in Indonesia

[11] MICROCAPITAL STORY: Cambodia Microfinance Association Lowers Microfinance Growth Targets Due to Effects of Global Credit Crunch