The Award 2015
The “Giordano Dell’Amore Microfinance Best Practices International Award”, promoted by Fondazione Giordano Dell’Amore, has three main objectives:
- to increase the awareness of the public about the importance of microfinance as a tool to foster the economic initiative of people excluded from the traditional financial system;
- to encourage the exchange of experiences and sharing of thoughts and in-depth analyses within microfinance community in order to raise the level of professionalism of the actors involved and to favour a growth path that considers innovation, sustainability and the social impact of microfinance interventions;
- to highlight and spread microfinance best practices that combine innovation and sustainability, while rewarding the ability to systematize the principal features of the intervention model so as to allow its replication in different contexts
The International Award is opened to any institution or organisation involved, for at least 12 months prior to the date of application, in the financial inclusion of people in a developing or transition country.
For the purpose of this competition:
- Any country is considered as “developing or transition country” excluding the following ones:
- European Union Members: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.
- European Union Candidates and Potential Candidates: Albania, Bosnia and Herzegovina, Iceland, Kosovo, Montenegro, Serbia, The former Yugoslav Republic of Macedonia, Turkey.
- EFTA countries: Liechtenstein, Norway, Switzerland.
- Other non-European Countries: Australia, Canada, Japan, New Zealand, United States of America.
- The initiative must be implemented by an institution or organisation based in a developing or transition country. In this sense, an institution or organisation having its headquarters in one of the countries listed above can apply to the Award if the initiative presented targets people living in a developing or transition country.
- The institution or organisation must provide financial services to people excluded from mainstream financial services or with a limited access to them. National networks (apex organisation), consultancy agencies and research institutes are not allowed to apply to the Award.
- The candidate must have been operative for at least 12 months prior to the date of application.
- People excluded from mainstream financial services or with a limited access to them can be either individual or groups such as cooperatives, associations, enterprises, etc.
In case of a partnership between an institution or organisation from a country listed at the beginning of Article 1 and one from a developing/transition country, the proposal must be submitted by the latter, which, would be, if applicable the prize recipient.
Every institution or organisation is entitled to apply with only one proposal, which must focus on the Award topic: “Improving financial inclusion of smallholder farmers”.
The initiative should have been already implemented or in a pilot phase for at least one year.
Fondazione Giordano Dell’Amore received 35 applications from institutions active in the financial inclusion of smallholder farmers in 28 countries of which 11 from Africa, 14 from Asia and 10 from Latin America.
|Benin||Association de Lutte pour la promotion des Initiatives de Développement (ALIDé)|
|IDEPRO Desarrollo Empresarial IFD|
|Burkina Faso||Faitière des Caisses Populaires du Burkina (FCPB)|
|Première Agence de Microfinance (PAMF-BF)|
|Cambodia||Angkor Mikroheranhvatho Kampuchea Co. Ltd (AMK)|
|Colombia||Banco de las Microfinanzas Bancamia S.A.|
|Corporación Nariño empresa y Futuro "CONTACTAR"|
|Côte d'Ivoire||Advans CI|
|Dominican Republic||Banco de Ahorro y Crédito ADOPEM S.A.|
|Ecuador||Cooperativa de Ahorro y Crédito Jardín Azuayo|
|El Salvador||Sociedad de Ahorro y Crédito Apoyo Integral S.A.|
|Ethiopia||Buusaa Gonofaa Micro financing SC|
|Guatemala||Fundación de Asesoría Financiera a Instituciones de Desarrollo y Servicio Social (FAFIDESS)|
|India||Belstar Investment and Finance Private Ltd|
|Muthoot Fincorp Ltd|
|Ujjivan Financial Services Private Ltd|
|Kenya||Juhudi Kilimo Co. Ltd|
|Microcredit Company OXUS Kyrgyzstan|
|Madagascar||Microcred Banque Madagascar|
|Mongolia||Organic Mongolia National Movement|
|Pakistan||Tameer Micro Finance Bank Ltd|
|Palestine||Palestine for Credit and Development (FATEN)|
|Paraguay||Fundación Paraguaya de Cooperación y Desarrollo|
|Philippines||Alalay Sa Kaunlaran Inc (ASKI)|
|Cantilan Bank Inc|
|Tulay sa Pag-unlad Inc (TSPI)|
|Tanzania||Kilimanjaro Cooperative Bank Ltd (KCBL)|
|Uganda||Pride Microfinance Ltd|
|Uzbekistan||Joint Stock commercial Bank "Microcreditbank"|
|Vietnam||Tinh Thuong One Member Limited Liability Microfinance Institution (TYM)|
The Selection Committee, composed by international experts in the microfinance and financial inclusion fields, with the support of the Award Secretariat, evaluated the initiatives presented and selected the three best experiences according to the following criteria:
- Evaluation of the institution (25%): the institution presents positive financial, social and environmental performance.
- Evaluation of the initiative presented (70%) according to the following criteria:
- Relevance (25%): the initiative presented is consistent with the Award topic (“Improving financial inclusion of smallholder farmers”).
- Innovation (15%): the initiative presented represents a transformation of a traditional practice into an innovative product, service, approach, and application of technologies and ideas.
- Sustainability (10%): the initiative presented is achieving some degree of financial sustainability or the institution is applying appropriate strategies that will help the initiative to attain sustainability.
- Impact or potential impact (10%): the initiative presented is having an impact or potential impact on the poor or marginalised beneficiaries. The impact manifests itself in quantifiable results.
- Replicability (10%): the initiative presented has the potential to be adopted by other providers to solve similar problems.
- Evaluation of the quality of the proposal (5%): the candidate’s Application presents the information needed to be fully assessed, in terms of completeness, clearness, and transparency. The Application has been prepared according to and in full compliance with the Guidelines included in the Application Form.
The 2015 finalist institutions
Cantilan Bank Inc.
Palestine for Credit and Development-FATEN
Title of the initiative:
Title of the initiative:
Title of the initiative:
The winner will be chosen by the Award Committee among the three short-listed candidates and its name will be disclosed during the Award Ceremony which will take place on October 15th during the International Conference. The Award winner will receive EUR 50,000. The funds awarded must be reinvested for the development and implementation of new projects or the expansion of existing ones.