UNDP holds an International Conference to extend the frontiers
of development in Turkey
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(December 13, 2005) - The United Nations
Development Programme organised an International Conference in Istanbul
aiming to explore ways to help the poor invest in the future in
Turkey. The two-day Conference provided an opportunity for Turkey's
government officials, industry leaders, cooperatives and members
of the banking sector to discuss the global Microfinance industry
and to identify models suitable to Turkey. This was one of the initiatives
aimed at helping people living in poverty gain access to much-needed
financial services by UNDP in Turkey, in support of Turkey's participation
in the 2005 International Year of Microcredit.
(Conference
Presentations and Agenda)
United Nations Development Programme (UNDP) hosted
an International Microfinance Conference on 12-13 December 2005
at the Marmara Hotel in Istanbul. Expert-level participants both
from Turkey and abroad attended the conference, entitled "New
Frontiers in Development". The UN Resident Coordinator and
UNDP Representative in Turkey Jakob Simonsen inaugurated the Conference
while Head of the Poverty Reduction and Economic Development Section
from the Regional Headquarters of UNDP Jonathan Brooks made the
welcoming speech.
The Conference addressed issues such as, "How
has the global microfinance sector evolved into an important dimension
of financial markets globally", "What are key models and
experiences in microfinance", "What key lessons can Turkey
draw from regional and global experiences", "What are
the experiences of microcredit institutions in Turkey". "Commercial
banks' interest in Microfinance in Turkey and the importance of
a regulatory framework" was discussed as well.
"We are aiming to reduce poverty by 50 percent
by 2015"
In his speech, Jacob Simonsen stated that through
the global practices of the Microfinance system, millions of people
have access to financial sectors. Mr. Simonsen added that, in order
to achieve its Millennium Development Goals, the United Nations
targets reducing poverty globally by the year 2015 and that Microfinance
is one of the powerful tools to reach that goal.
Jonathan Brooks said that they intended to work
with governments and regulators to build and expand the outreach
and success of Microfinance, wanted to help create the infrastructure
of microfinance and mobilise the assets of the private sector and
commercial banks in microfinance.
"95 percent of the loans we provide are
paid back in time"
Director of Maya Enterprise for Microfinance, which
was established in 2002 as an economic enterprise of Foundation
for the Support of Women's Work, Belgin Güzaltan, also delivered
a speech at the conference. She said that they aimed to provide
capital support to low-income Turkish women who own a small-scale
business, who want to expand their business or to establish a new
business. Ms. Güzaltan said the following in regard to Maya's
activities:
"We disbursed a total of 2693 loans as of 30
September 2005. These loans amount to $ 1.5 million. 95 percent
of the loans we distributed to 1500 women from Kocaeli, Ýstanbul,
Düzce and Sakarya up to date have been paid back in due time
with no defaults."
UNDP's activities in Turkey to develop an inclusive
microfinance sector
The issue of microfinance and its role in reducing
economic vulnerability and poverty has been a key subject of discussion
and debate over the past year in Turkey. UNDP, in cooperation with
the Turkish government, has established a National Committee on
Microfinance, comprising members of the Government, NGOs, the private
sector, academics and international development organizations, to
develop an inclusive microfinance sector. The National Committee
is seeking the creation of a national strategy and laying the groundwork
for the adoption of the necessary legislation on microfinance in
Parliament. The Committee is also working with the private sector
to help establish commercial opportunities to further support and
advance microfinance. A website (www.mikrofinansturkiye.org)
and newsletter have been launched to support the project and help
build public awareness on the role and benefits of the microfinance
sector in reducing economic vulnerability.
The issue of microfinance is particularly relevant
to Turkey as a means to potentially reduce the level of poverty.
While the number of those living in extreme poverty is relatively
low in Turkey, according to the World Bank and State Institute of
Statistics, 28 percent of the population experience food and non-food
poverty. A UNDP-commissioned study in 2003 found that some two million
people do not have access to the basic financial services necessary
to pull themselves out of poverty.
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