Swiss institutions launch the Swiss Capacity-Building Facility in Microfinance and Microinsurance:
The Swiss Capacity-Building Facility for Income and Employment Generation will link capacity-builders and social investors in Switzerland with financial intermediaries in developing countries, helping them to significantly scale up their outreach to poor people and small businesses.
The SCBF will provide tailor-made capacity building to assist financial intermediaries, such as insurance companies, microfinance banks, and savings and commercial banks, in developing countries, to expand their services and outreach to poor people and small businesses.
The goal of the initiative is to enable up to 50 financial intermediaries over the next five years to give an additional 360,000 poor households (and their approximately 1,800,000 family members) access to financial services, allowing them to strengthen their economic potential, build up physical and financial assets, protect their families through better housing, health and education, and improve resilience to economic shocks.
Swiss Capacity-Building Facility in Microfinance and Microinsurance
Based on their longstanding participation in financial sector development around the world, the Swiss Agency for Development and Cooperation (SDC), Credit Suisse, FIDES|Financial Systems Development Services AG , Swisscontact, swiss microfinance holding, and Zurich Financial Services Group, forged the SCBF as a public-private development partnership (PPDP) in April, 2011. The SCBF will initially be sponsored by these founding partners who are all represented in the steering committee. Other institutions are strongly encouraged to join the SCBF.
SCBF will launch the first projects in the coming weeks. Projects and partners will be selected according to the SCBF’s pre-defined criteria which include a focus on good governance and client protection principles. Apply Today at SCBF !
Addressing the Constraints to Expanding Financial Services to Poor People and Small Businesses
Approximately 2.7 billion people3 worldwide do not have access to formal financial services. The development and delivery of appropriate services offered by financial intermediaries to unserved customer segments generates income and employment.
Financial intermediaries face two key constraints in expanding their outreach to this segment of the population:
- Attracting, developing and maintaining skilled management and staff;
- Mobilizing investor funding to maintain and grow their institutions.
The SCBF addresses these constraints and contributes to the development of a strong and responsible microfinance industry. In addition, based on the leading role that Switzerland’s financial centre plays in microfinance, the SCBF aims indirectly at linking social investors with financial intermediaries to finance the latter’s pro-poor business expansion.
FIDES will manage the SCBF with the support of Swisscontact and under the supervision of the SCBF Steering Committee.
For further information visit the SCBF Website: www.swisscapacitybuildingfacility.ch