Asia Pacific Region Microcredit Summit in Dhaka, Bangladesh

Most of the world’s poor lack access to basic financial services that would help them manage their assets and generate income. This is especially true for the 900 million extremely poor people who live in rural areas of developing countries. Microfinance is one way of fighting poverty in rural areas. It puts credit, savings, insurance and other basic financial services within the reach of poor people.

From 16-19 February, IFAD will participate in the 2004 Asia Pacific Region Microcredit Summit in Dhaka, Bangladesh.

More than 1000 representatives of donors, policy makers, development practitioners and members of civil society will attend the Summit, to formulate the programme of the United Nations International Year of Microcredit in 2005, and develop strategies to achieve the Millenium Development Goals. Discussion will focus on issues including making microfinance services accessible to the poorest people, empowering women, building self-sufficient microfinance institutions and ensuring impact.

The Dhaka Microcredit Summit follows the 1997 Microcredit Summit, held in Washington D.D., United States. This Summit launched the Microcredit Summit Campaign. The ambitious goal of the Campaign is that one hundred million of the world’s poorest families will have access to microcredit and other financial services by 2005.

Next year, 2005, has been declared by the United Nations General Assembly as the UN International Year of Microcredit.