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Monday, 03 January 2011

European Microfinance Award – and the winner is… Harbu Microfinance Institution, Ethiopia

Harbu, an Ethiopian Microfinance Institution is the winner of the 3rd European Microfinance Award held on the 30th November at  the European Investment Bank. The Grand Duchess of Luxembourg, known for her staunch support to microfinance presented the award and the 100,000 euro prize to the laureate.  Harbu’s initiative involves financing the soybean value chain as a response to market demand generated by a shortage of cow milk in Jimma city, zone of Oromia regional state. The initiative started with 240 farmers and it was built on the basis of strengthening linkages between farmer marketing organisations as well as linkages with retailers and women’s associations in charge of processing and producing soya milk.Through their project, Harbu have created market opportunities for producer farmers and employment opportunities for urban women and youth. Simultaneously, it contributed to the improvement in the nutritional constituents of families, especially children and women.

Source: The European Investment Bank