Borrow Wisely Campaign – 1st time online*, 7th time fantastic!

2020 greeted everyone with many new challenges. For the Borrow Wisely Campaign it was no different. The formula of BWC had to be modified according to what is happening all around the world due to the pandemic outbreak.

Who would imagine that instead of numerous educational events for MFIs clients and staff, the Campaign was forced to move (mostly) to the internet.

#2020BWC partnering institutions have done a tremendous job and adjusted the activities to the current situation. The organizers are impressed, and would like to thank every participant, above all for their flexibility and creativity.

BWC online in 2020 – what & how?

As the Borrow Wisely Campaign needed to move entirely to the online space, MFC provided the participants with guidelines on social media promotion and other online means of communication. The results of the MFIs’ and Associations’ activities were very good! On Facebook we have seen literally hundreds of posts referring to the Campaign, tens on LinkedIn, and some on Twitter as well. The BWC team is currently counting and analysing the statistics, so make sure you follow the updates! Many of BW partners created attractive, colourful and user friendly landing pages. MFC website and social media channels were also full of BWC news. On the bottom of this page we present some of the examples of the activities – this is just a tiny part, though. Do not wait and check other excellent posts by using the official hashtags: #2020BWC and #BorrowWisely.

BWC – why do we actually do that?

What was important for the participants and their channels’ followers, was first of all making sure about the clarity of the loan contract. This was one of the most shared BWC principle on social media.

This is one of the fundamentals of the approach a microfinance institution should present. It reflects the care about the client, which is not common among consumer loans providers. Borrow Wisely is also a response of the Microfinance Centre for the member institutions’ needs. We all unite to strengthen the positive power of taking loans wisely while stressing out the traps which this process can create for clients.

BWC 2020 – not only online!

*Yes, there were on-site events organized as well! The Member MFIs were taking their best care to make sure all the health and security measures are introduced, and that the event is safe for their participants.

We will mention just some of the initiatives, do not hesitate to check out more – just visit a dedicated webpage of 2020 edition where you will find all of the participants’ online channels information.

KEPA/microSTARS from Greece held a meeting in an agricultural school. Read a short summary provided by the organizers:

The young students (future entrpeneurs) in the agricultural sector were the main audience.

They had the opportunity to get acquainted with the Head of microSTARS office, Mrs. Agni Pagouni, who presented the business development services that microSTARS offers, while they managed to learn what microcredit is and to what extent microfinance is applied in Greece. They also to became familiar with issues, such as entrepreneurship, female entrepreneurship, financial management, market research, business planning, and skills development. Through their active participation, the students had the opportunity to discuss the concept of financial health and to be informed about the opportunity given to them to take advantage of the online Health Check Quiz. The purpose of the Health Check Quiz is for every individual to have a clear picture of his/her ability level to manage his/her own finances.’

See below some online activities of our Borrow Wisely Campaign partners: Agro Social Fund (Instagram), AMA (press release), AMFI (website communication), Microinvest (press release), NOA (facebook), OBS (LinkedIn), Microinvest (ok.ru), Sunrise (facebook), EKI (twitter), Fondi Besa (LinkedIn), Hope Ukraine (landing page)