Widening access to finance is vital to the future sustainability of our communities. We use our own resources alongside our financial legal advisory skills to widen access to finance, particularly in the field of microfinance.
Microfinance is a tool for alleviating global poverty by providing poor people with access to small loans and other financial services, such as saving schemes and insurance, which have been traditionally denied to them.
For example, we have a longstanding partnership with global strategic pro bono and community outreach client the Grameen Foundation. We recently collaborated with Grameen and MicroEnsure to launch Fearless Health, a transformative health financing solution for the Nairobi mass market. The key to the Fearless Health product is that it allows customers to pay for the care that they need over time, rather than going without because they are unable to afford an upfront payment. Fearless Health is now looking at ways to roll out its product on a wider scale.
In Madrid, our microfinance group is working to promote the establishment of a regulatory framework that strengthens legal certainty and guarantees access to European funds for those who have difficulties accessing basic financial services. The team has helped to form the Spanish Microfinance Association and regularly advises pro bono on the development of microfinance and social enterprise projects. We are also working with the Spanish Government to establish a microfinance law in Spain.
For more information about our commitment to access to finance, please read our Responsible Business reports.