News
6 July 2010 - Annette Brooke MP re-elected as Chair of the APPG on Microfinance
Annette Brooke, MP for Mid Dorset and North Poole has today been re-elected as the Chair of the All Party-Parliamentary Group (APPG) on Microfinance.
Annette Brooke founded the APPG on Microfinance in 2002 after having been introduced to the issue by a local constituent. The Group has grown to become a leading forum for Parliamentarians, practitioners, academics and non-governmental organisations interested in microfinance.
The APPG was instrumental in supporting the UK National Committee for the UN International Year of Microcredit in 2005 and was one of the sponsors for Professor Muhammad Yunus to receive the Nobel Peace Prize in 2006.
In accepting the post, Annette Brooke said,
"I am delighted that the APPG on Microfinance continues to have the cross-party support of so many politicians as well as from many leading British organisations and academics. Working together we will be able to raise even greater awareness of this powerful type of development which enables individuals, families and communities in developing countries to help themselves and work their way out of lifelong poverty.
“Almost 3 billion people worldwide do not have access to formal financial services and instead rely on irregular and unreliable sources of income. The UK has an important role to play in helping more people gain access to financial services as well as monitoring the social impact of microfinance on its clients.
“Whilst by no means a silver bullet, effective microfinance programmes can contribute towards the achievement of all of the Millennium Development Goals (MDGs), particularly those relating to eradicating hunger and poverty and the empowerment of women. The UN MDG Summit in September is a key opportunity for the international community to review the progress that has been made in eradicating extreme poverty and the role that microfinance can play in helping poor people help themselves.”
Other Members of Parliament were also elected as Officers of the APPG today:
* Vice Chair: Kerry McCarthy, MP for Bristol East
* Vice Chair: Stephen Lloyd, MP for Eastbourne and Willingdon
* Treasurer: Robert Syms, MP for Poole
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21 June 2010 - APPG invites input into workplan for 2010 and 2011
The All-Party Parliamentary Group on Mirofinance is looking for input from external stakeholders to help it develop its priorities for 2010 and 2011.
By participating in this short survey, you can help inform APPG members about the direction the group should take and priority issues that it should be addressing.
To participate in the survey, click here.
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8 June 2010 - Canadian Parliament passes motion to increase support for microfinance
Yesterday a motion calling on the Canadian government to dedicate new funding for microcredit lending in the world’s poorest countries received unanimous support from all Canadian Members of Parliament.
John McCallum, the Member of Parliament for Markham-Unionville, sponsored the motion following a recent visit to a Microcredit Summit in Nairobi, Kenya where he witnessed firsthand how microloans are helping improve communities, giving hope and reaching the very poor (those who live on less than a $1.25/day) people in the world.
“While in Nairobi I met with people who have championed microcredit for years, but it was as I spoke with the locals who have benefited from microloans, I came to appreciate the true potential of this approach to international development,” said McCallum. “When I returned to Ottawa and began discussing my experiences with my parliamentary colleagues I quickly realized that this was something that we could all agree on.”
The unanimous motion read as follows:
That, in the opinion of the House the government should consider providing additional funding, within the next twelve months, to competent organizations for the purpose of carrying out microcredit lending targeted at people living on less than $1.25 per day in least-developed countries.
Click here for the full press release.
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28 May 2010 - DFID funding has helped 'spur a micro-financial revolution'
In a letter to the Telegraph, Secretary of State for International Development, Andrew Mitchell MP said that well-spent aid can save millions of lives. Mr Mitchell used the example of microfinance to illustrate the positive impact of aid: "DFID's seed-funding for mobile-phone based cash transfers, in partnership with Vodafone, has helped spur a micro-financial revolution across Africa", he said.
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24 May 2010 - DFID co-sponsors summit on mobile banking
The GSMA Mobile Money Summit, co-sponsored by DFID, Visa, Citibank and others, is currently taking place in Rio de Janeiro. The annual summit brings together mobile operators, finance institutions, and mobile money technology providers to look at news ways to both develop the market for businesses and provide greater access to mobile money services to the "unbanked" populations of the developing world.
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11 March 2010 - DFID partners with the World Bank to expand mobile banking for the unbanked
The Consultative Group to Assist the Poor (CGAP) the independent microfinance policy and research centre based at the World Bank – has launched a new partnership with DFID. DFID will be co-funding the CGAP Technology Programme along with the Bill and Melinda Gates Foundation, by providing £8 million to the project.
The CGAP Technology Programme focuses on promoting the use of information and communication technologies (ICT) in order to increase access to financial services for a greater number of poor people.
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26 January 2010 - Mark Field MP leads debate on microfinance in Parliament
APPG member Mark Field MP led a 90 minute debate on microfinance in Westminster Hall today. Also participating in the debate was APPG Chair Annette Brooke MP as well as International Development Spokespeople from the Conservative, Labour and Liberal Democrat parties. Click here to read a transcript of the debate.