During European Microfinance Week, Kompanion Financial Group was presented the 5th European Microfinance Award for its commitment to both microfinance and environmental sustainability. For this year’s award, 26 applications from 19 countries were received. The Luxembourg Minister for Development Cooperation and Humanitarian Affairs, Mr. Romain Schneider said, “We offer this prize to stimulate innovation in microfinance, and are pleased that this goal remains as important as ever. Environmental changes disproportionately affect the poorest people in developing countries, and the examples of this year’s finalists as well as so many other applicants demonstrate that financial inclusion and environmental sustainability can go hand-in-hand. I expect that their examples will promote greater focus on the environment across the sector.”
Kompanion Financial Group received the EUR 100,000 prize from the Luxembourg Ministry of Foreign and European Affairs – Directorate for Development Cooperation and Humanitarian Affairs. Olesia Paukova, the Director of Development Services of Kompanion Financial Group said, “With the prize money we plan to develop a ‘mobile classroom’ to reach the herders in remote pasture lands and provide trainings in more villages across Kyrgyzstan. We will also develop video materials to be used in public schools in remote areas. These materials will connect students in those areas with our livestock management experts who will present the best pasture land management practices. This will increase our outreach even further.”
Congratulations to Kompanion Financial Group for their great work in sustainable land management practices to help in the restoration of degraded lands.
Truelift would also like to congratulate XacBank LLC and ESAF Microfinance, a Truelift Aspirant Milestone Institution, for being selected as finalists.