KFCC promotes financial inclusion via branches in developing nations
The Korean Federation of Community Credit Cooperatives, the nation’s leading mutual financial institution, said Friday it had further expanded its global financial inclusion model for developing countries, allowing greater access to financial services that can help them alleviate poverty.
“Under the Sustainable Development Goals, a universal call to end poverty and inequality by the United Nations, we will continue to practice environmental, social and corporate governance efforts all over the planet,” a KFCC official said.
Setting up its first global branches in Myanmar in 2017, Uganda in 2018 and Laos in 2020, the KFCC now has 56 branches overseas, with some 15,000 members.
Regardless of political unrest which can lead to economic instability, these global branches are accumulating members and savings based on strong community spirit, the cooperative said.
Under the value of mutual aid, KFCC, also known as Saemaul Geumgo, provides an official development assistance model that contributes to the economic growth of developing nations.
In order to promote financial literacy, the model introduces feasible financial services and products that can boost asset buildings, as well as the economic well-being of the financially excluded.
Following last year’s workshop in Fiji, the cooperative hosted another training workshop for Laos last month, discussing their plans for inclusive and sustainable development.
Acknowledged for its contribution toward financial inclusion, the KFCC has been selected as one of the prime examples of ODA model by the Office for Government Policy Coordination in 2021.
In the meantime, the KFCC declared the “World Saemaul Geumgo Day” to celebrate its 60th anniversary this May, in partnership with International Co-operative Alliance and European Association of Co-operative Banks.
(责任编辑:부동산)
- ·New US special envoy for N. Korean human rights issues takes office, plans to visit Seoul next week
- ·[Photo News] 2023 Sea Art Festival returns to Busan's Ilgwang Beach
- ·Samsung owns largest No. of Israeli subsidiaries among S. Korean conglomerates: report
- ·한 경기도 안 뛰고 병역 면제?…국감 오른 아시안게임 '병특'
- ·LS Cable inks partnership for Vietnam submarine cable market
- ·대통령실 “UAE 대통령 방한 순연”…이스라엘·하마스 충돌 영향
- ·Import prices up for 3rd month in September on higher oil prices
- ·HiteJinro to produce soju in Vietnam
- ·Another suspect of Tajik duo behind S. Korean money exchange robbery nabbed
- ·Cast of ‘Norma’ says opera difficult to sing but easy to enjoy
- ·Import prices up for 3rd month in September on higher oil prices
- ·[view] 민심 더 싸늘해지는데…감동 없는 김기현 2기
- ·Enjoying Halloween in Itaewon sparks debate online
- ·MBK chairman makes donation to promote Korean art at New York's Met
- ·김성원 여의도연구원장 "공천장사 지라시, 허위사실 유포로 고소"
- ·[Our Museums] Discover wisdom of hanok at Eunpyeong History Hanok Museum
- ·Supporters of Israel hold rally in Seoul, urge Hamas to stop atrocities
- ·US strategic bomber B
- ·Hamas weapons, tactics resemble those of NK: JCS
- ·Hyundai Rotem to showcase new ground weapons systems at Seoul expo
- ·北, 러시아 외무장관 방북 발표…내달 18~19일 방문
- ·北, 日의 장거리미사일 조기 배치 추진에 “전쟁국가 일본 실체”
- ·오세훈, ‘TBS 폐지’ 묻자 “그런 일 생겨서는 안 돼”
- ·HiteJinro to produce soju in Vietnam
- ·윤 대통령 “국민소통·현장소통·당정소통 강화하라”
- ·[Korea Beyond Korea] In Paris, soaring demand for Korean studies yet to be fully met