18th Microcredit Summit Campaign Announces Declaration on Economic Empowerment and Social Inclusion

Wednesday, March 16, 2016

Organised jointly by Khalifa Fund for Enterprise Development, the Arab Gulf Programme for Development (AGFUND), and the Microcredit Summit Campaign, the summit gathered 1000 global policy makers, central bank managers and microfinance experts to explore and discuss innovative financial inclusion strategies that can create clear pathways to economic and social inclusion.

The delegates recognized the importance of microfinance and financial inclusion in contributing to a balanced distribution of development growth, poverty alleviation, reduction in unemployment, social welfare, empowerment of women as well as its contribution to other economic benefits that enhance the pillars of a sustainable economy.

At the closing ceremony, the summit partners committed to a declaration that supports the success of the Universal Financial Access 2020 goal, the World Bank 2030 goals, and the U.N. Global Goals.

Commenting on the declaration that aims to devise financial instruments and programs that support targeted efforts to reduce poverty and promote social welfare, H.E. Abdullah S. Al Darmaki, CEO of Khalifa Fund said: “Khalifa Fund will continue to promote entrepreneurship and support SMEs in Abu Dhabi, thus contributing to the development of a diversified, knowledge based economy, in line with the Abu Dhabi Economic Vision 2030.”

Source: CPI Financial (link opens in a new window)

financial inclusion, microfinance