The 2017 European Microfinance Award honors a microfinance institution, based in a developing country, that implemented innovative solutions to support access to better quality residential housing for low income, vulnerable and excluded groups, with no or limited access to housing finance in the mainstream sector. 37 microfinance institutions from 23 developing countries contended for this award, which this year focused on "microfinance for housing".
This years' winner, Cooperativa de Ahorro y Préstamo Tosepantomin, helps marginalized rural Mexican communities with their residential housing building projects by offering savings and home loan products paired with technical support. The cooperative is also recognized for its promotion of eco-friendly building techniques.
This award, a prize of EUR100,000 from the Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg’s Ministry of Foreign and European Affairs, was given at a ceremony held at the European Investment Bank, in the presence of Their Royal Highnesses the Grand Duchess and the Hereditary Grand Duke.