Rural Finance Initiative Limited (RUFI) Wins the 2024 European Microfinance Award for Empowering Refugees Through Financial Inclusion

RUFI has received the prestigious EUR 100 000 European Microfinance Award 2024 in recognition of its transformative efforts to enhance financial inclusion for refugees and forcibly displaced persons (FDPs). In a ceremony hosted at the European Investment Bank (EIB), the award was presented by the Luxembourg Ministry of Foreign and European Affairs - Directorate for Development Cooperation and Humanitarian Affairs, in collaboration with the European Microfinance Platform (e-MFP) and the Inclusive Finance Network Luxembourg (InFiNe). It is conferred on organizations that demonstrate exceptional innovation and commitment in helping displaced populations meet the challenges they face.

According to the latest UNHCR Global Trends Report, over 120 million people worldwide had been forcibly displaced by persecution, conflict and human rights violations as of the end of April 20241. Most of these individuals find refuge in low-income and developing countries, where local systems are often ill-equipped to meet their needs. Financial inclusion plays a critical role in supporting displaced individuals, offering a pathway to achieving self-reliance, restoring livelihoods and building long-term resilience.