4th European Microfinance Award
Microfinance for Food Security
In 2012, the 4th European Microfinance Award "Microfinance for Food Security" focused on microfinance initiatives which contribute to improving food production and distribution conditions in developing countries.
The objective was to highlight and stimulate initiatives and partnerships that represent breakthroughs in promoting food security.
Created in 1986, ASKI is promoting socio-economic development through client focused financial and non financial services.
The initiative presented for the 4th European Microfinance Award focused on increasing the small farmers' productivity through financing, market linkages and capacity building program. It consistet of providing microcredit, technical assistance and insurance to small farmers, and sustained market linkages to private sector enterprises. The initiative enhanced knowledge and productivity of small farmers and helped beneficiaries increase their yield, produce good quality harvests, and reduce postharvest losses because of adequate infrastructure and proper use of adapted techniques.
BANCO FIE (Banco para el Fomento a Iniciativas Económicas S.A.) was initiated first as an NGO in 1985 and began operating as a bank in 2010.
The initiative presented for the 4th European Microfinance Award was an agricultural loan tailored to the needs of rural smallholders farmers and to their production cycle. No guarantees were requested and BANCO FIE evaluated its clients repayment capacity. With its credit activity, Banco FIE became one of the principal funders of the agriculture sector in Bolivia and encouraged the traditional financial sector to move to rural areas and support agriculture.
Kompanion was founded in 2004. It provides microloans along with science based support for small holder farmers and livestock holders.
For the 4th European Microfinance Award, Kompanion presented "The Home Garden Development Initiative: An Ethno-ecological Approach to Food Security". "The Home Garden Development Initiative" worked with small holder farmers to improve their home garden production and to promote biodiversity for long term nutrition benefits and sustainable land management. It consisted of providing communities with technical assistance and specific training using the ethno-ecological approach. The trainees were then eligible for a specific loan product.
For more information about the 2012 winner and finalists see the 4th European Microfinance Award Report from e-MFP.