Role of microcredit in the eradication of poverty

Welcomes the lauching of different microcredit initiatives in recent years; also welcomes the outcome of the Microcredit Summit, Washington, D.C., from 2-4 Feb. 1997; notes with satisfaction that, many UN agencies and the World Bank actively participated in the Summit; takes note of the Declaration and Plan of Action of the Microcredit Summit, the communiqué issued by the Council of Heads of State and Government at the Summit, and messages to the Summit from the Chairman of the Group of 77 and China and from the Secretary-General; recongnizes the important contributions being made to develop and disseminate best practices among all organizations engaged in the provision of financial services on a sustainable basis to people living in poverty; also encourages them to adopt policies that support the development of microcredit institutions; calls upon the international donor community to support the strengthening of existing and emerging microcredit institutions in the developing countries; also calls upon the relevant organs, organizations and bodies of the UN system to explore including the microcredit approach in their programmes as a tool for the eradication of poverty; calls upon all concerned non-governmental organizations to support and incorporate microcredit and related services in their programmes for the eradication of poverty.

Adopted without vote, 77th meeting

3 p.

Adopted at the 77th plenary meeting, 18 Dec. 1997.