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Citigroup Inc. (NYSE: C)
June 27, 2007
Fomento Social Banamex Issues Invitation to 2007 Banamex Microentrepreneurship Awards
Mexico City – Fomento Social Banamex, in collaboration with Prodesarrollo, Finanzas y Microempresas A.C., issued the official announcement for the 2007 Banamex Microentrepreneurship Awards, inviting all the microfinance institutions of the country to propose their best customers as candidates.
The objective of the contest is to promote microfinancing as a tool to reduce poverty through a productive activity and recognize the most successful microentrepreneurs of the country in nine categories: rural and urban innovation, rural and urban trajectory, rural and urban consolidation, rural and urban group, and “Success Story.”*
For the design and communication of this award, an Organizing Committee was created, made up by Fomento Social Banamex A.C. and Prodesarrollo, Finanzas y Microempresas A.C. – as well as an Advisory Board led by Fomento Social Banamex with the participation of representatives of entities associated with the sector: Programa Nacional de Financiamiento al Microempresario (National Financing Program to Micro-entrepreneurs) (PRONAFIM) of the Ministry of Economy, the Fideicomisos Instituidos en Relación con la Agricultura (Agriculture-Related Established Trusts) (FIRA) of the Central Bank of Mexico, the Fondo Multilateral de Inversiones (Multilateral Investment Fund – FOMIN) of the Inter-American Development Bank, the Consorcio Latinoamericano para Capacitación en Microfinanciamiento (Latin American Microfinancing Training Consortium) (COLCAMI), and Banamex Financial Education, among others.
This announcement marks the consolidation of a support project to Mexican microentrepreneurs, after the success achieved by the two previous editions of the Banamex Microentrepreneurship Awards in 2005 and 2006. It also reiterates the commitment of Banamex to recognize, support, and disseminate the successful productive projects, regardless of their scope, and the good financial practices of alternative credit institutions in Mexico.
Fernando Peón, Director General of Fomento Social Banamex, said: “In Mexico we have great men and women, microentrepreneurs who work hard to improve their living conditions and of those of their families. By virtue of this, we feel enthusiastic to announce the third edition of the Banamex Microentrepreneurship Awards, whose objective is to recognize their effort and communicate their example so that it can be replicated throughout the entire country.”
The invitation establishes that there will be one winner for each category, who will receive a prize of 30 thousand pesos, and up to two special mentions per category. All the participants will be given a diploma and a course on accounting principles, sponsored by Banamex Financial Education.
Based on the success achieved in the last year contest, the same format has been maintained for this year. The best “Success Story” will receive a special award and the three microfinance institutions that have proposed the highest number of candidates with the most comprehensive information will be recognized.
Each microfinance institution of the country can propose up to two of its best customers per category, without exceeding a total of ten candidates for each institution. To do it, they will fill out a format that must be sent via e-mail. The deadline is September 14, 2007.
The proposals will be analyzed by a jury comprised of personalities specialized in this topic. On October 8, the winners will be announced and the awards ceremony will be held also in October in Mexico City.
The complete information and documentation on the bases and procedures for this prize is found in http://www.banamex.com/esp/grupo/eventos/index.html.
*The nine categories are:
Rural Innovation (innovation in a rural/country project)
Urban Innovation (innovation in an urban or city project)
Rural Trajectory (experience in a rural /country project)
Urban Trajectory (experience in a city project)
Rural Consolidation (finished project)
Urban Consolidation (finished project)
Rural Group (project in which a group of people – as opposed to an individual project – succeed in a rural area)
Urban Group (project in which a group of people succeed in a major urbanization)
Success Story
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Grupo Financiero Banamex
Grupo Financiero Banamex is a member of Citigroup, Inc., and is the leading financial group in Mexico with Banco Nacional de México (Banamex), founded in 1884. Through its affiliates, the group maintains a preeminent position on the country's financial markets, including deposits, consumption financing, handling of investment societies and funds' resources for retirement, secure banking, pensions and stock exchange brokerage. The group has an extensive distribution network of more than 1,450 branch offices and 5,800 ATMs located throughout Mexico. For more information, visit www.banamex.com.