Her Excellency the Right Honourable Michaëlle Jean
Speech on the Occasion of the Official Opening of the Commune 6 Savings and Credit Union, Member of the Nyèsigiso Network
Bamako, Mali, Friday, November 24, 2006
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I am honoured to join you today to take part in the official opening of the Commune 6 Savings and Credit Union, a member of the Nyèsigiso Network.
Over the years, Mali and Canada have forged an extraordinary partnership. It is a partnership that believes in the potential of women, men and youth, one that is built on our shared will to break down barriers to encourage entrepreneurship and creativity.
Micro‑credits are one of the best ways to achieve this—for those unable to obtain traditional bank loans but need a hand getting started in business; for those whose hard work and courage often drive the local economy.
Canada is proud to support the creation and development of the Nyèsigiso savings and credit union network, currently the second largest in Mali with over 120 000 members.
I would like to make special mention of the participation of Développement International Desjardins, a corporation established in Quebec, whose expertise in the co‑operative movement and micro-finance is known worldwide.
Micro-finance is an indispensable tool in the effort to eradicate poverty worldwide. It is an incentive for initiative, the benefits of which flow through the entire economy and affect all peoples everywhere.
It is also an instrument that enables women to take charge of their lives and, by extension, to take charge of the economic development of their communities. An instrument through which they can aspire to become heads of their own businesses.
I have had the pleasure of speaking with three women who are members of the network, who shared their experience with me and some of the members of the Canadian delegation accompanying me.
The determination with which they worked tirelessly to improve their daily lives and that of their families greatly impressed us all.
Each one of them acknowledged that she does not have the collateral needed to secure a loan from a traditional banking institution. Without micro‑credits, none of them would have been able to succeed. Their stories are a lesson in courage and a source of inspiration.
I am pleased that Mali has developed an action plan on micro-finance and has set up a national advisory group that brings together all of the key players, including technical and financial partners.
President Amadou Toumani Touré has made micro-finance a priority and organized a large-scale meeting of these key players in March 2006, followed by a sub‑regional summit held in Bamako in October 2006.
One of the major concerns revolves around access by women and youth to financial services, given that they belong to the most vulnerable segments of society.
Rest assured that Canada will work with its Malian partners so that more and more people are able to take those first determined steps down the path toward self‑sufficiency across this country.
And know that the co-operation between Mali and Canada rests on the same unshakable belief that we must refocus our efforts on individuals and human dignity.
It is in this spirit of solidarity that we will continue to work together.
Thank you very much.
