About Microfinance Day 2021 and the risk of social exclusion in Romania

Raluca Andreica, Patria Credit IFN: ”Celebrating Microfinance Day is all the more important today when social exclusion in Romania has reached 35.8%”

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Bucuresti, 18 October 2021

Patria Credit IFN, a member of Patria Bank Group, an institution dedicated to microfinance for agricultural producers and small businesses in rural areas, joins the European Microfinance Network initiative again this year and celebrates with 20 other European institutions and partners the European Microfinance Day.

This year's anniversary was symbolically chosen on 15 October, based on Eurostat statistics, which show that 21.7% of the EU population is at risk of poverty or social exclusion. So, in terms of days in a calendar year, this means that around 15 October the doors are closing for those who want to build a better life.

Poverty Risk

Source: https://ec.europa.eu/eurostat/web/products-eurostat-news/-/edn-20211015-1

Raluca Andreica, General Manager Patria Credit: “&In microfinance we are working hard to move this limit more în more and more, year after year, so în no one is left în behind. There's a lot of work to do in Romania, but we're seeing change for the better year on year, at a trickle, although the overall statistics are worrying. We join the celebration of Microfinance Day to help raise awareness of the need for an articulated strategy of social and financial inclusion, beyond rural finance which we have been doing for almost 20 years now, with good results and positive impact în communities.

The anniversary slogan for 2021 reflects this desire - Keeping the doors open for all entrepreneurs – and the main objectives of this day remain unchanged from year to year:

  • to raise awareness among European citizens about the existence of microfinance and its potential to fight unemployment and social exclusion
  • to draw the attention of the European media to how microfinance works and how it supports and helps unemployed and excluded European citizens in the traditional financial sector
  • to encourage the exchange of experience in the European microfinance sector, giving visibility to the work of MNE and MFC members and the Microfinance Center
  • to encourage local members to draw attention to their achievements and their mission

It is well known the constant concern of Patria Credit and Patria Bank în to find solutions for the development of rural communities by providing easy access to microfinance and promoting financial inclusion, especially since Romania is far above the European average and 35.8% of the population is at risk of poverty or social exclusion. 

So, this year, Patria Credit celebrates Microfinance Day and with two good news:

  • Raluca Andreica, CEO Patria Credit, has been appointed as a member în board member of the European Microfinance Network for the next 3 years. Her appointment is an important recognition of the performance and determination în the Patria Credit and Patria Bank team to support and finance agricultural producers and small businesses in rural areas, to contribute to the development of rural communities and social and financial inclusion. The voice of Romanian and Eastern European microfinance and of all MNE member microfinance institutions will be heard at the European discussion table for important decisions in microfinance.
  • Launch of a limited anniversary offer for existing and new clients: loans requested and granted îbetween 18-22 October 2021 will benefit from ZERO origination fee.

Microfinance Day is a European initiative supported by the European Microfinance Network (EMN) and the Microfinance Centre (MFC) with the mission to promote microfinance facilities as a possibility to foster entrepreneurship and fight unemployment and social exclusion.

For more details on the Microfinance Day action please visit:https://www.patriacredit.ro/promotii/ziua-microfinantarii