Citi Sponsors 2012 European Microfinance Week

 

Luxembourg – Citi Microfinance and Citi Luxembourg were the main sponsors of the 2012 European Microfinance Week organised by the European Microfinance Platform (e-MFP) that took place in Luxembourg on November 15-16, 2012. The European Microfinance Week is one of the largest microfinance conferences in Europe, engaging more than 110 speakers and 450 participants from leading European microfinance organizations working in developing countries.

The topic for this year was focused on the capacity of the sector to “combine strengths and demonstrate results” for financially excluded populations. More than 24 workshops and conferences were organized over the two days on microfinance related topics such as regulation, governance, consumer protection, product and distribution innovation, as well as measuring impact and identifying outcomes.

Opening the first plenary session, Bob Annibale, Global Head of Citi Microfinance and Citi Community Development, said, “The main difference in 2012 is that the current microfinance industry has brought together a much wider range of organizations and stakeholders driving financial inclusion, from Mobile Network Operators (MNOs) to mainstream banks, postal savings banks, insurers, re-insurers and m-banking platforms. Financial inclusion becomes a defining goal, and microfinance, as Citi sees it, is one of the main tools for advancing inclusion but our remit has broadened – to agribusiness, value chain support, health and the like."

H.R.H the Grand Duchess of Luxembourg, who is a keen supporter of microfinance, joined for the fourth European Microfinance Award presentation, focusing this year on food security and sponsored by the Government of Grand Duchy of Luxembourg. The award was won by ASKI (Alalay Sa Kaunlaran Inc.), a microfinance institution from the Philippines for its work supporting food security in low income communities through agribusiness loans, investment in local infrastructures and technical assistance to farmers. Citi has partnered with AKSI on a project focused on supporting Philippine workers in Singapore, save and access microfinance funding for family businesses at home.

Marjolaine Chaintreau, from the Citi Microfinance team, was also invited to present the latest report published in September 2012 on Promoting Financial Inclusion for Job Creation in Europe. The report presents 11 recommendations supporting self-employment, micro and small businesses in Madrid to promote job creation based on successful experiences for financial inclusion in New York and Germany.

Citi Microfinance is an associated member of the European Microfinance Platform. Working with our clients and partners globally, Citi seeks to expand access to formal financial services and expand the financial skills and capability of unbanked and under-served communities.

In Luxembourg, Citi Transaction Services is a leading provider of fund and administration services to some of the largest microfinance investment vehicles in the sector. Citi Luxembourg developed strong expertise and a specialized team adapted to the evolving needs of the microfinance investment vehicles, their managers, sponsors and investors.

Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube:www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi| LinkedIn: www.linkedin.com/company/citi

Citi Microfinance
Working across Citi’s businesses, product groups and geographies, Citi Microfinance serves more than 100 microfinance institutions (MFIs), networks and investors as clients and partners in over 40 countries with products and services spanning the financial spectrum – from financing, access to capital markets, transaction services and hedging of foreign exchange risk, to credit, savings, remittances and insurance products – to expand access to financial services for the underserved.

Additional information may be found at www.citi.com/citi/microfinance

European Microfinance Platform (e-MFP)
Founded formally in 2006, The European Microfinance Platform [e-MFP] is a growing network of over 130 organisations and individuals active in the area of microfinance. Its principal objective is to promote co-operation amongst European microfinance bodies working in developing countries, by facilitating communication and the exchange of information. e-MFP members include banks, financial institutions, government agencies, NGOs, consultancy firms, researchers and universities.