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International Year of Microcredit

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International Year of Microcredit

On December 15, 1998, the General Assembly of the United Nations adopted Resolution 53/197 declaring 2005 as the International Year of Microcredit. The resolution requests that the observance of the Year be a special occasion for giving impetus to microcredit programs throughout the world and invites Governments, the United Nations system, all concerned non-governmental organizations, other actors of civil society, the private sector, and the media to highlight and give enhanced recognition to the role of microcredit in the eradication of poverty.

The UN Division for Social Policy and Development is preparing a report for the Secretary General and is requesting suggestions on: a) What should be the major goals of the International Year of Microcredit, and b) What action-oriented activities and initiatives could be taken at the national, regional, and international levels in the preparation for, observance of, and follow-up to the Year.

The Microcredit Summit Campaign has met with leadership in the Division for Social Policy and Development and is preparing an official submission that will be discussed and approved at a face-to-face meeting of the Campaign Executive Committee on April 17.

Please review the draft suggestions below and send any changes or new ideas to info@microcreditsummit.org by March 11, 2003.

2004—The Lead-Up

1. Have the Microcredit Summit's Asia/Pacific Meeting in 2004 and Africa/Middle East Meeting in 2004 promoted by the UN as official events of the International Year of Microcredit.
2. Have government finance ministries participate in the Asia and/or Africa meetings in a special session on creating legal and regulatory frameworks for successful microfinance and on the creation of autonomous microfinance funds.
3. Have UNDP Administrator Mark Malloch Brown convene an inter-agency group that includes practitioners and the private sector to determine how microcredit can more fully contribute to halving absolute poverty by 2005.

2005—The Year

1. Have the Microcredit Summit Latin America/Caribbean Meeting in 2005 promoted by the UN and declared an official event of the International Year of Microcredit.
2. Have Secretary General Kofi Annan participate in the news conference releasing the State of the Microcredit Summit Campaign Report 2005 in November 2005 at the UN.
3. Have UNDP's Human Development Report 2005 focus on the role of sustainable microfinance for the very poor in achieving the Millennium Development Goals, especially that of cutting absolute poverty in half by 2015.

2006—The Year After

1. Have the Microcredit Summit's final global meeting in 2006 promoted by the UN and declared an official follow-up event of the Year.