The Association of Microcredit Organizations in BiH-AMFI is the host of the first regional conference of the microfinance sector of the Western Balkan countries “Microbalkans 24”, which is being held in Sarajevo on October 31 and November 1.
The “Microbalkans 24” conference will bring together leaders of microfinance institutions, representatives of central banks, competent ministries and supporters of the microfinance sector from North Macedonia, Albania, Serbia, Montenegro, Kosovo and Bosnia and Herzegovina, and other countries.
Organized by the Association of Microcredit Organizations of Bosnia and Herzegovina – AMFI and with the institutional patronage of the Central Bank of BiH, the FBiH Banking Agency and the RS Banking Agency, the conference aims to strengthen regional cooperation and lay the foundations for joint development of the sector, which will be marked by the signing of a Memorandum of Understanding between representatives of the microfinance sector of the countries of the Western Balkans.
Elma Zukić, president of AMFI, points out that “Microbalkans 24” symbolizes connection and solidarity in the microcredit sector, showing that, “even though we are called ‘micro’, our joint influence is ‘macro’, strong and powerful”.
Elma Zukić (Photo: BAM Consult)
– The signing of the memorandum is the cornerstone of our strategy for the future, for strengthening the role of microfinance in supporting vulnerable categories, encouraging energy efficiency and improving transparency in business – Zukić pointed out and added that the Memorandum represents a significant step forward for all microfinance associations in the region, which have committed to cooperation in improving regulatory and legal frameworks, as well as access to international and domestic funding sources.
As she pointed out, the microfinance sector in the Western Balkans shows exceptional results.
– More than 110 institutions of the non-deposit sector in six countries of the Western Balkans actively provide social and financial inclusion. It is estimated that over three million residents benefit from these services with an active average portfolio of over two billion euros. These numbers not only illustrate the strength of the sector, but also its role in creating financial inclusion and social development – Zukić pointed out.
– Only in Bosnia and Herzegovina, 30 microcredit organizations serve more than 250,000 clients, which directly and indirectly affects the improvement of the living conditions of 21 percent of citizens. It is estimated that just one microcredit enables the improvement of the living conditions of a family of three – explained Zukić and added that with more than 2,000 employees and around 700 field units, they illustrate the strength of the sector and its role in financial inclusion, social development and reaching social development goals throughout the country.
Jorgos Papadakis, director of the European Microfinance Network, says that this conference represents a unique opportunity for all relevant actors of the microfinance sector in the region to gather and discuss.
– The importance of microfinance for the Western Balkans was and remains indisputable, and the launch of a regional network of microfinance institutions again puts it in the focus of decision makers at the regional and international level – said Papadakis.
During the conference, attendees will have the opportunity to participate in panels on digitization in microfinance, ESG standards and the role of women in the financial sector, as well as the regulatory environment and its possible improvements in accordance with international trends.
Source: ba.ekapija.com
