In 2009 and 2010, Accion continued to expand its reach around the globe. Key milestones included helping to start microfinance institutions in underserved areas of Inner Mongolia, Cameroon and Brazil to empower the vulnerable poor in those regions with economic opportunity. In December 2009, Accion inaugurated Accion Microfinance China (AMC) in Chifeng Prefecture, Inner Mongolia, to deliver financial services in a region where 40 percent of the population remains below the poverty line. In January 2010, Accion received the green light from the Brazilian government to launch microfinance operations in Manaus, in the poor Amazonas region of the country. And in April of that year, Accion worked with Ecobank to establish EB-Accion Microfinance in Cameroon.
Today, Accion’s work is far from over. More than 2 billion of the world’s poor still lack access to financial services. Accion is more committed than ever to using its 50 years of experience in order to help build a more financially inclusive world. To this end, we will continue to focus sharply on reducing vulnerability and on increasing opportunity for poor households by helping to deliver full financial inclusion – credit, savings, insurance, payments, remittances, financial education, and more – provided at affordable prices, in a convenient manner, and with dignity for clients.
Accion’s goal is to build microfinance institutions that are committed to generating both social and financial value. We seek partner institutions that demonstrate the potential to be the industry’s future leaders in financial inclusion. This includes both institutions with a focus on low-income households and other retail organizations and technologies that provide financial products and services to this same market segment in various ways.