Gouvernement Princier de Monaco
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News of theme "Public Aid for Development and International Cooperation"
31 May 2016 Press release

Launch of Monaco Government’s Solidarity Challenge

From 1 to 30 June 2016, the Monaco Government will be taking action in aid of micro-entrepreneurs throughout the world via an innovative and unifying project which will help to support small initiatives with a big impact.

The aim of the Monaco Government’s Solidarity Challenge is to bring together its various departments and raise their awareness of the development aid activities supported by the Prince’s Government. The initiative is being led by the Department of International Cooperation and its partner, Babyloan, the leading European crowdfunding website.

Projects run by micro-entrepreneurs (in the fields of agriculture, food production, retail, etc.) from nine countries* will be presented via an online platform solely dedicated to the Monaco Government. The amount of the loan being requested and the reasons which have prompted the entrepreneur to develop an income-generating activity will also be indicated. In many cases, the primary objective is simply to enable their children to go to school...

For one month, via this platform, all government employees with an @gouv.mc email address will be able to vote for three projects of their choice from a selection of around sixty. Once voting is over, the micro-entrepreneurs who have received the most votes will be funded by the Department of International Cooperation.

Currently, 75% of the population in developing countries does not have access to traditional banking services.

Babyloan enables those on extremely low incomes to access a microloan (between 400 and 800 euros) to set up or grow a small business. The loans are made via carefully selected local microfinance institutions. Of the 27,000 projects supported through Babyloan, 99% of loans have been repaid.

Small loans lead to big things!

* Benin, Ecuador, Haiti, Honduras, Indonesia, Nicaragua, Uganda, Peru and Morocco

Autres actualités du thème

https://en.gouv.mc/Policy-Practice/Monaco-Worldwide/Public-Aid-for-Development-and-International-Cooperation/News/Launch-of-Monaco-Government-s-Solidarity-Challenge