congratulations to

Banco FIE (Bolivia)

Winner of the European Microfinance Award 2022 "Financial Inclusion that Works for Women"

The 2022 European Microfinance Award

Financial Inclusion that Works for Women

The 2022 European Microfinance Award highlights organisations working in financial inclusion that aim to understand and meet women’s challenges and aspirations in order to go beyond traditional gender outreach strategies.

Out of 88 organisations from 47 countries who have applied to win the €100,000, Banco FIE, the Bolivian Bank won the Award.

Read the press relase on the Award winner in English, en français and en español.

Banco FIE (Bolivia)

Winner

Banco FIE is a Bolivian bank established since 2010 It was an NGO before) offering integral financial solutions to the MSMEs to contribute to the construction of a sustainable, inclusive and equitable society.

It serves 1,119,783 clients of which 54% are women - the population of Bolivia is 11.83 million- and employs 56% of women.

The Bolivian bank has integrated the gender focus in the overall product design to make its services of easy access to women:

  • Micro insurance products: Family Life Insurance, which is linked to savings and recently the Cancer Insurance, which provides assistance and coverage in the event of a cancer diagnosis
  • Financial Education Programmes, with has a special focus on digital empowerment and a platform for women entrepreneurs that includes networking, financial advice, training spaces, economic and social empowerment, soft skills, etc. Café con Expertas Programme, where female leaders empower women clients through a cycle of webinars
  • Social projects such as Casa de las Mujeres, Segunda oportunidad and Tú decides providing technical and financial empowerment trainings.

Banco FIE has conducted several studies to understand its women clients' demographic, challenges and aspirations The latest studies include research to understand patterns of behaviour in the use of digital media by women micro entrepreneurs and a study on female participation in the agribusiness sector.

The bank has developped an Inclusive Communication Guide establishing guidelines for a (no-sexist) communication which avoid gender stereotype. Banco FIE implements an innovative business management model called Marca Magenta to consolidate Banco FIE's commitment to contribute to gender equity. The programme aims at promoting inclusive leadership, women's empowerment, violence prevention and access to equal opportunities. Marca Magenta's three pillars of action are:

  1. Equal opportunities (ensure equality in the workplace)
  2. Empowerment and leadership management (develop capacities for autonomy, decision making and active participation of women through leadership development programmes)
  3. Violence prevention (to ensure a safe environment free of harassment and all types of violence).

Since 2019, the bank adheres to the UN Women's Empowerment Principles (WEP's) and measures gender performance.

The 2 runners up of the 2022 European Microfinance Award receive 10,000€ each:

Bancamía (Colombia)

Kashf Foundation (Pakistan)

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Get to know the 10 semi-finalists of the 2022 European Microfinance Award, including the winner and the 2 runners-up, via this e-MFP publication

Financial Inclusion that Works for Women_Web