UNDERSTANDING MICROFINANCE AND ITS ROLE IN SOCIAL INCLUSION
Microfinance provides financial services to individuals who face barriers to accessing traditional credit, helping them create new businesses. This alternative lending system empowers socially marginalized individuals to engage in entrepreneurship, promoting social inclusion, employment, and sustainable development.
The MICROFUTURE Project: Future-Proofing Microfinance
The MICROFUTURE project builds on the vision of Muhammad Yunus, Nobel Peace Prize laureate, aiming to future-proof microfinance. It seeks to ensure accessibility for all potential beneficiaries by leveraging digitalization and addressing contemporary challenges.
4th Project Meeting: Örebro, Sweden
The fourth MICROFUTURE project meeting took place on October 15-16, 2024, in Örebro, Sweden. Hosted by Region Örebro County, the event gathered 28 participants from various countries, including Romania, Italy, France, Slovenia, and Sweden, along with stakeholders from the public sector and social economy. The event included a Steering Committee meeting and a study visit to local social enterprises.
Thematic Highlights: Microfinance and Social Economy in Sweden
The meeting focused on the role of microfinance in social inclusion, with presentations from Lotta Karlsson-Andersson, CEO of the Activa Foundation, and Ylva Lundkvist Fridh, CEO of Mikrofonden Sverige. Mikrofonden is Sweden’s largest social impact investor, providing financial support and coaching to social enterprises. Charlotta Englund, Regional Councillor, highlighted Örebro County’s achievements in integrating social enterprises into regional development strategies.
Workshops and Policy Discussion
Workshops centered on policy changes and the status of the Policy Checklist, with partners discussing accomplishments and remaining gaps. The Yunus Foundation presented a survey on microfinance beneficiaries and led a brainstorming session on expanding social impact indicators.
Study Visit: Social Enterprises in Örebro County
The second day featured a visit to four work-integrating social enterprises. In Karlskoga, participants saw how the municipality transformed its labor market unit into social enterprises offering job training and opportunities. Other visits included Föreningen Integrera and Mohass, both providing services and employment to marginalized individuals. In Örebro, the group visited Rosängen, the region's largest social enterprise, and Re:form Foundation, supporting individuals in recovery or the criminal justice system.
The 4th MICROFUTURE Project Partners Meeting highlighted the importance of collaboration between public authorities and the social economy in fostering an inclusive, sustainable future for microfinance. The lessons learned will inform future microfinance policies and practices.
For more info read the report: file:///C:/Users/JasnaP/Downloads/COMMUNICATION%20REPORT_2024_Council%20of%20SSD%20PP6%20(4)%20correct-komprimerad.pdf