JERUSALEM, November 12, 2016 (WAFA) - The microfinance department of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) has been awarded with the ‘Transparency Award‘ at Sanabel‘s 12th annual conference which convened in Casablanca, Morocco on 1-2 November 2016, an UNRWA press release said on Friday.
The award was received in recognition of achieving the highest standards of data and information disclosure, including financial performance, social performance, and/or management and governance, as well as UNRWA‘s commitment to responsible pricing practices that promote the integrity of microfinance as a poverty-alleviation practice.
This year‘s Sanabel Conference gathered more than 400 participants representing a mix of practitioners, policymakers, funders and investors to discuss and learn about regional progress and evolving trends for the advancement of a more inclusive microfinance sector in the Arab region. UNRWA shared its microfinance experience in serving Palestine refugees in Syria.
Considered a peer learning process, the microfinance department outlined how it adapted its products, manuals and delivery channels to target internally displaced Palestine refugees from Syria in response to their evolving needs.
Despite the current challenges, the UNRWA microfinance program remains active in Syria, even establishing new branch offices to increase our outreach. In 2015, UNRWA granted 9,334 loans in the country, worth $2.6 million; 31 percent of these loans went to women, who have represented a large share of our clients for several years.
Speaking in response to receiving the award, Jane Giacaman, chief of the microfinance department at UNRWA, said, "This prize awarded to UNRWA‘s microfinance department is the result of 25 years of efforts exerted by its management and staff in reinforcing and developing its products, manuals, internal controls and disclosure of its reports. The microfinance team is proud of this ‘Transparency Award‘ and will continue to employ all its resources within a culture of motivation, harmony and professionalism, towards achieving the department‘s mission of serving Palestine refugees and other proximate poor."
The UNRWA microfinance department, created in 1991, provides sustainable income-generation opportunities for Palestine refugees, as well as other poor or marginalized groups who live and work near them.
It extends credit and complementary financial services to households, entrepreneurs and small-business owners. These investments create and sustain jobs, reduce poverty and empower clients, particularly women.
In 2015, UNRWA granted a total of 38,193 loans for a total value of $37,898,795.
M.A.
