On #WorldRefugeeDay, We Stand with Resilient Refugees

On #WorldRefugeeDay, we at the Microfinance Centre (MFC) stand proudly with resilient refugees dedicated to rebuilding their lives. This commitment reflects the essence of today’s observance: acknowledging challenges while focusing on solutions.

Empowering Ukrainian Women through “The Way to Business”

In parallel, our pilot project, “The Way to Business,” funded by the JPMorgan Foundation and conducted from July 2023 to June 2024, has successfully empowered Ukrainian women to achieve financial independence through entrepreneurship. Within 12 months, 10 trainers provided over 450 hours of consultation to 200 women, culminating in the registration of 40 new businesses. Our promotional videos featuring these entrepreneurial women have garnered over 900 views, and our dedicated web page for Ukrainian entrepreneurs attracts around 100 new visitors each month. Additional research among Ukrainian women aspiring to start businesses in Poland has provided valuable insights into their needs and potential challenges, enabling us to better support their entrepreneurial journeys.

Enhancing Financial Inclusion for Refugees with UNHCR

Throughout 2023, our strategic partnership with UNHCR has significantly enhanced the role of microfinance and MFIs in promoting financial inclusion among refugees in Europe. We have focused on building the capacity of MFIs to effectively serve this vulnerable population. Key activities included:

  • Guidance and Training: Providing support to member MFIs through guidance, training, and the exchange of best practices in expanding their services to refugees.
  • Stakeholder Engagement: Organizing 39 meetings with key stakeholders supporting refugee-inclusive microfinance.
  • Events and Workshops: Hosting 2 dedicated events/workshops summarizing lessons learned, challenges, and opportunities for future growth. Additionally, participating in 6 events to foster robust debates and dialogues on critical issues surrounding refugee financial inclusion.

Developing Business Development Services (BDS) for Refugees and Migrants

Furthering our efforts, in a strategic collaboration with UNHCR, we have focused on developing and enhancing Business Development Services (BDS) for refugees and migrants. Together with our members and partners, we have conducted 4 webinars where we shared relevant experience and insights. These webinars are now available on our YouTube channel:

Researching Financial Instruments for Migrant Integration

Additionally, MFC, in partnership with Ernst & Young, Technopolis Group, and t33, participated in a research project titled “The Potential for Financial Instruments under the Asylum, Migration and Integration Fund (AMIF) in the Area of Integration of Migrants.” During this project, we organized:

  • 15 Interviews with Stakeholders
  • 4 Focus Group Discussions
  • 2 Workshops in Brussels

These efforts aimed to discuss key issues related to migrant economic integration, access to finance, and brainstorm potential solutions. The project culminated in the development of several reports, including a Market Assessment Report, Implementation Options, and 6 country-specific reports (France, Germany, Italy, Lithuania, Poland, Romania).

Our Commitment to an Inclusive Financial Future

Through strategic partnerships among MFIs, NGOs, and government bodies, we are committed to creating a more inclusive and equitable financial future. Today, and every day, we reaffirm our unwavering dedication to this mission.

Solidarity #WithRefugees

#WorldRefugeeDay #FinancialInclusion #Microfinance #Empowerment #Resilience