The Association of integrated community finance institutions (Proxfin) organized online Annual General Meeting on October 7th 2020. Co-opBank’s Chairman Nguyen Quoc Cuong, members of Board of Directors and Boards of Management, Chief Accountant and managers of related departments at Co-opBank’s head office were present at the meeting.
Six new members including Banco Mundo Mujer (Colombia), Fenacrep (Peru), Espoir Foundation for Intergral Development (Ecuador), Société CIF Assurances-Vie Burkina, Société CIF Assurances-Vie Togo and Co-opBank.
According to Co-opBank’s Chairman Nguyen Quoc Cuong, it is an honour for Co-opBank to become a Proxfin member and will give Co-opBank and the PCFs system the opportunities to discuss and exchanges ideas and experiences with other member organizations. The PCFs system was established back in 1993. After 27 years, it has developed to almost 1,200 PCFs and played an important role in the co-operative, financial sector and made great contribution to rural and agricultural development and improvement in the livelihoods of members.
Leaders of the Co-opbank attend Proxfin’s 2020 annual association in an online format
Chairman Nguyen Quoc Cuong highlighted that throughout the development of Co-opBank and the PCFs system, DID has been one of the most important partners through a number of technical assistance projects. Recently, it has been co-operating with Co-opBank in the “Strengthening the PCFs system” (STEP) project in order to strengthen capacities, management and IT system and improve PCFs’ products and services to meet members’ demand in rural and agricultural areas.
DID Communications Director and Proxfin’s Secretary France Michaud delivered a report on Proxfin 2019-2020’s activities. These included online E-learning platforms for credit unions in technical assistance projects in Colombia, Tunisia, Mali and Vietnam. Digital learning has become increasingly essential and relevant in the Covid-19 pandemic context.
In Colombia, DID has developed a loan appraisal mobile application using agricultural economic data that can be used by all co-operatives and agricultural financial institutions in Colombia.
In Mali, the FARM project in which DID is participating aims to strengthen the capacities of Malian financial institutions and agricultural producers, with the purpose of increasing food security. To date, this project has strengthened the capacities of six financial institutions in agricultural credit; improved risk management related to the supply of agricultural credit and natural hazards, made crop insurance products available in three value chains and strengthened the skills leadership of thousands of women.
In 2020-2021, Proxfin will continue to promote its members’ activities, progress and achievements and organize online training, forums and seminars for members to share their stories and experiences. 2021 Annual General Meeting is expected to take place in Quebec (Canada) along with other activities to celebrate DID’s 50th anniversary (1970-2020).
Proxfin is set up by DID and aimed to connect federations of credit unions, co-operatives in countries in which DID is present. Currently there are 31 Proxfin members all over the world.
Internaltional relations and Project management department
