GEN

Welcomes the successful observance of the International Year of Microcredit, 2005; underlines the need for greater access to microfinance; also underlines the importance of strengthening domestic financial sectors as a source of capital by making them inclusive, thus expanding access to financial services; notes that there is still lack of relevant statistical data on inclusive financial sectors; invites Member States to consider adopting policies to facilitate the expansion of microcredit and microfinance institutions; encourages Member States to adopt coherent financial regulatory frameworks; recognizes that the current financial crisis can adversely impact financial flows to microcredit and microfinance institutions as well as the services that they provide to the poor, and emphasizes that such instruments should be protected, as appropriate, from potential credit deficiency; decides to devote one plenary meeting at its 65th session to the consideration of the outcome of and follow-up to the International Year of Microcredit.

Adopted without vote, 72nd plenary meeting

3 p.

Issued in GAOR, 63rd sess., Suppl. no. 49.