The European Microfinance Network (EMN) and the Microfinance Centre (MFC) held the main event for the European Microfinance Day #2019EMD in Brussels, on 17th of October, 2019, during which, several outstanding local microfinance beneficiaries were distinguished, the benefits of microfinance were disseminated, while also a ceremony for the awardees of the European Code of Good Conduct took place.
KEPA with “microSTARS” initiative was among the awardees of the Certificate of the European Code of Good Conduct for microfinance institutions. Mr. Neoklis Stamkos, “microSTARS” Project Manager and CFO of KEPA, received the specific award, which will enable microSTARS to address the challenges of accessing long-term funding, maintaining and enhancing the quality of its services and its path to sustainability.
More precisely, the European Code of Good Practice for microfinance comprises a set of standards on general management, governance, risk management, reporting, customer and investor relations that are common to all microcredit sector in the European Union. These standards are being followed, for the benefit of customers, investors, funders, regulators and partner organizations.
It is worth mentioning that, this specific certification of microfinance institutions is a prerequisite within the legislation for microcredit (which is expected to be voted the following months) mainly for funding purposes, both for national and EU funding, with regard to current and future programming period.
Last, during the #2019EMD event, there was an announcement about the launch of a new € 200m loan as a financial tool, which was addressed to accredited microfinance recipients and banks.