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Microfinance as a suitable instrument of European and Czech development cooperation

Author

Listed:
  • Karel SRNEC

    (Institute of Tropics and Subtropics, Czech University of Life Sciences, Prague, Czech Republic)

  • Jiřina SVITÁKOVÁ

    (Institute of Tropics and Subtropics, Czech University of Life Sciences, Prague, Czech Republic)

  • Magdalena VÝBORNÁ

    (Institute of Tropics and Subtropics, Czech University of Life Sciences, Prague, Czech Republic)

  • Pavel BURIAN

    (Institute of Tropics and Subtropics, Czech University of Life Sciences, Prague, Czech Republic)

Abstract

European countries use microfinance as an instrument of development cooperation in three separate forms, which differ in the financial flow. In the first type, the government transfers grant money to their non-government organizations (NGOs), which then distribute the funds directly to the local microfinance institutions (MFIs) (eg. Finland). In the second form, the funds are sent through to the branch-offices of the NGOs located in the developed country to developing countries (eg. Norway, Sweden). The third type allows for a direct relationship between a donor country development co-operation agency and a local microfinance institution in a developing country without intermediation of the developed country NGOs (eg. Great Britain, Germany). The Czech Republic currently does not support microfinance by the direct/indirect transfer of funds, but it promotes the awareness of the Czech NGOs and the public of microfinance as a tool for the economic development.

Suggested Citation

  • Karel SRNEC & Jiřina SVITÁKOVÁ & Magdalena VÝBORNÁ & Pavel BURIAN, 2011. "Microfinance as a suitable instrument of European and Czech development cooperation," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(11), pages 529-533.
    • Handle: RePEc:caa:jnlage:v:57:y:2011:i:11:id:52-2011-agricecon
    DOI: 10.17221/52/2011-AGRICECON
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    References listed on IDEAS

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    1. Joanna Ledgerwood & Victoria White, 2006. "Transforming Microfinance Institutions : Providing Full Financial Services to the Poor," World Bank Publications - Books, The World Bank Group, number 7086.
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