The United Nations Capital Development Fund (UNCDF) and the 2005 International Year of Microcredit
Maria Theresa and her husband Wenceslao received a loan to help them to purchase supplies and tools to keep up with rising demand for their bamboo furniture. The Year of Microcredit is raising awareness of the importance of providing all entrepreneurs, like Maria Theresa and Wenceslao, with opportunities of accessing financial services.
Photo by Adam Rogers/UNCDF
On 18 November 2004 the United Nations launched the International Year of Microcredit, as part of an effort to build support for making financial services more accessible to poor and low-income people. The Year aims to raise public awareness about microcredit and microfinance, and promote innovative partnerships among governments, donors, international organizations, non-governmental organizations, the private sector, academia and microfinance clients.
Known alternately as microcredit or the broader term microfinance, this highly successful partnership of public and private interests began to gain momentum in the mid-1970s as a serious tool for development. By the end of 2001, microcredit was provided to 26.8 million poor people-though this represents only about six percent of the estimated number of poor who could effectively use credit and related financial services including savings, insurance and asset-building systems. Through a concerted, collaborative and spirited effort by all stakeholders, microcredit can assume an even larger role in the global strategy for meeting the international pledge of the Millennium Development Goals (MDGs) and the commitment to cut poverty in half by 2015.
The UN General Assembly designated 2005 as the International Year of Microcredit and has invited Governments, the United Nations system, concerned non-governmental organizations and others from civil society, the private sector and the media to join in raising the profile and building the capacity of the microcredit and microfinance sectors. It requested the United Nations Capital Development Fund (UNCDF), as the policy advisory and technical assistance center for microfinance for the United Nations Development Programme Group (UNDP), to develop, with inputs from Member States, UN agencies and other stakeholders, the programme of action for the Year. UNCDF also hosts the Year secretariat, which is responsible for the operational management of coordinating the Year.
Working closely with the United Nations Department of Economic and Social Affairs (UNDESA), the UNCDF Year of Microcredit Secretariat is currently involved in coordinating a wide-range of activities for the Year, including the Blue Book project to identify key constraints and opportunities in providing inclusive financial services that are available to all citizens.
For information on current activities associated with the Year, please visit the Year of Microcredit website.
Video
This five-minute video presents the highlights of the year. Filmed, produced and edited by Adam Rogers, UNCDF Head of Communications and Public Information. Soundtrack by Dov.
How did the International Year of Microcredit 2005 come about?
Following is a brief timeline of events leading up to the launch of the International Year of Microcredit 2005, together with the relevant resolutions:
| December 1998: | Within the context of the UN Decade for the Eradication of Poverty, the UN General
Assembly designated the year 2005 as the International
Year of Microcredit stating that the Year will be an important
opportunity to give impetus to microfinance programmes
throughout the world.
 Download United Nations General Assembly Resolution A/58/488 [Implementation of the first United Nations Decade for the Eradication of Poverty (1997-2006)]: [ Spanish ] [ Arabic ] [ Chinese ]
|
| December 2002: | The Secretary General (DESA/DSPD/MICROCREDIT/2002) requested Government's views and suggestions on the goals and activities that could be taken at the regional, national and local levels in preparation for and observance of the Year. |
| April 2003: | United Nations Capital
Development Fund (UNCDF), as the policy advisory
and technical assistance center for microfinance
of the United Nations Development Programme Group
(UNDP), was requested by the United Nations Department
of Economic and Social Affairs (UNDESA) to develop,
with inputs from Member States, UN agencies and other
stakeholders, a draft programme of action for the
Year as mandated in the resolution 53/197.
Download : UNCDF's Concept Paper for the International Year of Microcredit 2005: [ English ] [ French ] [ Spanish ] |
| June 2003: | A draft programme for the Year as part of the Secretary-General’s report on the Implementation of the first United Nations Decade for the Eradication of Poverty (1997-2006) was submitted to the fifty-eight session of the General Assembly was finalized. |
| September 2003: | The report of the Secretary-General on the Implementation of the first United Nations Decade for the Eradication of Poverty (1997-2006) was published. |
| October 2003: | The report was discussed in the Second Committee under item 100 of the provisional agenda. |
| October 2003: | A briefing was organized for Member States on the draft programme of action for the Year. |
| November 2003: | A draft resolution on the International Year of Microcredit was negotiated in the Second Committee (Economic and Financial). |
| December 2003: | The resolution on
the Programme of Action for the Year of Microcredit
was adopted by the General Assembly.
Download the Secretary General's programme of action for the International Year of Microcredit: [ English ] [ French ] [ Spanish ] [ Arabic ] [ Chinese ] [ Russian ] |
| September 2004: | Report of the Secretary General on Preparations for the International Year of Microcredit 2005 |
| 18 November 2004: |
Launch of the Year at the United Nations headquarters
in New York.
For more information on the launch, click here. |
| 24 April 2006: |
Release of final report on the accomplishments of the 2006 International Year of Microcredit
[ html ] |
