The Closing Plenary session for the 2013 Partnerships against Poverty Summit begins in just 30 minutes. You don’t want to miss this session–and you don’t have to! Visit http://partnershipsagainstpoverty.org/livestream to watch the session LIVE.
The Closing Plenary will have two main focal points: Truelift Milestone Institution Recognition and announcing the Global Commitments from attending organizations.
Truelift debuted at the 2011 Global Microcredit Summit in Valladolid, Spain as a global initiative to renew focus on the pro-poor objective of microfinance, i.e., a Trustmark that signifies a commitment to positive and enduring change for people living in poverty, in microfinance and beyond.
Truelift recognizes and advocates for pro-poor principles in microfinance, provides a framework, learning environment and recognition, aligns profitability with social inclusion, draws attention to good models, and collaborates with industry efforts including Smart Campaign and Social Performance Task Force.
Among the first 7 “milestone” MFIs that Truelift will be recognizing, the Negros Women for Tomorrow Foundation (NWTF) is the first Filipino MFI. They are receiving this award for showing the highest poverty outreach of all MFIs in the Grameen Foundation poverty calculation research (from 30%-64%) based on the PPI data. The Board at NWTF has also established an SPM Committee to work more on positive change in client’s lives and provide direction based on the poverty movement data received, including an increase in the activities of the Client Service Department for non-financial services. Gilbert Maramba, research and development manager for Negros Women for Tomorrow Foundation, Inc. in the Philippines will be representing.
Global Commitments to end poverty will also be announced at the closing plenary. According to the Global Findex study, more than half of the people in the world do not currently have formal financial accounts, especially the poor, women, people living in rural areas, and those with limited education.
To increase meaningful financial inclusion, two key avenues must be pursued. The first is to promote broader use of reliable and accurate poverty measurement tools so that practitioners can more clearly identify their level of poverty down-reach and better target their services to intended client groups. The second is to facilitate practices that lead to movement out of poverty through learning, product and service development, creating cross sector partnerships, targeted investor and donor funding, and building ways to better serve poor clients and meet their needs for the journey out of poverty.
Large multinational institutions, small practitioners just setting out, advocates and members of civil society, funders, investors, academics and the financial service providers themselves will be making commitments for achieving the 100 Million Goal: helping 100 million families lift themselves out of severe poverty.