WASHINGTON, DC -- 11/12/08 --
With the shockwaves of the financial crisis
reverberating across the globe, there is growing concern about its impact
on the world's poor. Grameen Foundation is hosting a discussion of this
issue among microfinance and international development leaders at its
annual Knowledge Sharing Roundtable on November 12 in Washington, D.C. The
roundtable precedes the foundation's annual Microfinance Awards event where
it will honor a microfinance pioneer and two microfinance institutions that
play pivotal roles in helping poor women access financial services to
support their self-help efforts.
"This is a challenging time, particularly for the poorest among us, but we
are hearing remarkable stories of resilience and resourcefulness among
microfinance clients," said Alex Counts, president of Grameen Foundation.
"This year's honorees, Nurjahan Begum, MBK Ventura, and Al Tadamun, are
great examples of the skillful leadership that is critical in helping
microfinance institutions and their clients navigate the challenging
economic times ahead."
Past global financial crises have had minimal impact on the microfinance
sector as it was not strongly connected to the formal financial sector.
Today, more microfinance institutions are accessing commercial financing,
which increases the potential impact of global market shifts on their
operations.
At the awards luncheon, Nurjahan Begum, one of Dr. Muhammad Yunus' earliest
associates and a founding staff member of Grameen Bank, will receive the
Susan M. Davis Lifetime Achievement Award for her efforts to organize women
in Bangladesh's poorest villages and for leading the fight for the rights
of disadvantaged women for more than 30 years. Named for Grameen
Foundation's third chair of its board of directors, this award was
inaugurated in 2007.
Mitra Bisnis Keluarga (MBK) Ventura of Indonesia will receive the
Excellence in Microfinance Award for its leadership in ensuring that
Indonesia's poorest citizens receive financial services. Based on the
island of Java, it is the only large institution focusing on the poorest 25
percent of Indonesians and serves almost 90,000 female clients.
Al Tadamun of Egypt will receive the Grameen Foundation and Grameen-Jameel
Pan-Arab Pioneer in Microfinance Award in recognition of its innovative and
aggressive program to provide financial services to Cairo's poorest women.
Its creative, client-focused solutions have given more than 41,000 women
and their families greater financial opportunity and security.
This year's Pioneer Award is being given jointly with Grameen-Jameel
Pan-Arab Microfinance, Ltd., which directs Grameen Foundation's work in the
Middle East and North Africa.
About Grameen Foundation
Grameen Foundation is a global non-profit organization that combines
microfinance, technology, and innovation to empower the world's poorest
people to escape poverty. It has established a global network of partners
in 28 countries that has impacted an estimated 34 million lives in Asia,
Africa, the Americas, and, through
Grameen-Jameel Pan-Arab Microfinance, Ltd., in the Arab World. Based in
Washington, D.C., Grameen Foundation was founded in 1997 by Alex Counts,
who began his work in microfinance with 2006 Nobel Peace Prize Laureate Dr.
Muhammad Yunus, the founder of Grameen Bank. Dr. Yunus is a founding and
current member of Grameen Foundation's board of directors. For more
information on Grameen Foundation, please visit www.grameenfoundation.org.
For information on Dubai-based
Grameen-Jameel Pan-Arab Microfinance, Ltd., visit www.grameen-jameel.com.
Contact:
Liselle Yorke
lyorke@grameenfoundation.org
202-628-3560, ext.128
