BAKU, Azerbaijan, May 21. Co-chair of the
Nizami Ganjavi International Center, Ismail Serageldin said that
the role of women in microfinance is decisive in the reconstruction
of post-conflict societies, Trend reports.
He made the remarks during his speech at the event titled
“Advancing Housing Policy Through Multilateralism: From Global
Commitments to Local Impact,” held within the framework of WUF13 in
Baku.
He emphasized that the role of international financial
institutions, including the World Bank and UN agencies, is not
limited to providing financial resources, but also includes drawing
on extensive experience and comparative analysis from projects
implemented across different countries.
According to him, over many years these institutions have
financed projects in various countries and identified which
approaches are most effective, transferring this knowledge to local
governance structures.
Serageldin noted that microfinance has produced significant
results in developing countries, including Bangladesh and several
countries in Latin America, with particular importance placed on
expanding women’s access to financial systems.
“In many cases, the main beneficiaries of loans have been women.
For example, in Bangladesh, around 94% of microfinance program
beneficiaries are women. This demonstrates the crucial role of
women in rebuilding social capital and communities,” he said.
He added that in post-conflict periods, the rebuilding of
societies and social ties is often driven by women’s
initiatives.
Serageldin also stressed that international organizations should
adopt a modest and supportive approach while strengthening local
communities.
“The main goal is to enable local communities to take ownership
of their achievements and feel empowered. This is a very important
principle in the development process,” he said.
He concluded that further efforts are needed to build more
resilient financial institutions in developing countries.
Today marks the fifth day of WUF13 in Baku.
The first day included a ministerial meeting dedicated to the
New Urban Agenda, a ministerial roundtable, assemblies for women
and civil society, business sessions, and discussions on urban
prosperity. An official ceremony marking the raising of the UN and
Azerbaijani flags also took place.
The second day stood out for the inaugural Leaders' Summit,
featuring high-level discussions on the global housing crisis,
urbanization policy, and urban resilience. Concurrently, the
opening of the Mexico City pavilion took place, serving as a
significant platform for expanding cooperation with the Latin
American region and preparing for WUF14.
The third day of WUF13 featured a comprehensive program of
events covering the global housing crisis, the formation of safe
and inclusive cities, climate resilience, artificial intelligence
and urban governance, green urbanization, social equity, and
sustainable transport.
One of the highlights of the third day was the signing of a
sister-city memorandum between the Azerbaijani city of Shusha and
the Turkish city of Trabzon.
The fourth day of WUF13 featured a broad program of events
dedicated to urbanization, climate change, inclusive urban
development, housing policy, and sustainable governance.
One of the important events of the UN Special Programme for the
Economies of Central Asia (SPECA) Cities Forum, held on the fourth
day, was the announcement of Almaty’s official accession to the
“Declaration of Intent on the Establishment of the SPECA Smart
Climate-Resilient Cities Forum.”
Also, for the first time in WUF history and at Azerbaijan’s
initiative, the “WUF13 NGO Forum: Global Partnership and
Decision-Making” was held.
WUF13, which has attracted more than 40,000 registered
participants from 182 countries, will continue until May 22. Held
under the theme “Housing the world: Safe and resilient cities and
communities,” the forum brings together governments, international
organizations, experts, and representatives of civil society to
strengthen global cooperation in the field of sustainable urban
development.
