United Nations General Assembly A/RES/61/214 Distr.: General 12 March 2007 Sixty-first session Agenda item 57 (a) Resolution adopted by the General Assembly on 20 December 2006 [on the report of the Second Committee (A/61/426/Add.1)] 61/214. Role of microcredit and microfinance in the eradication of poverty The General Assembly, Recalling its resolutions 52/193 and 52/194 of 18 December 1997, 53/197 of 15 December 1998, 58/221 of 23 December 2003 and 59/246 of 22 December 2004, Recognizing the need for access to financial services, in particular for the poor, including access to microcredit and microfinance, Recognizing also that microfinance, including microcredit programmes, has succeeded in generating productive self-employment and proved to be an effective tool in assisting people in overcoming poverty and reducing their vulnerability to crisis, and has led to their growing participation, in particular the participation of women, in the mainstream economic and political processes of society, Recognizing further that the majority of the world’s poor still do not have access to financial services and that microcredit and microfinance are the subject of significant demand worldwide, Bearing in mind the importance of microfinance instruments, such as credit, savings and other financial products and services, in providing access to capital for people living in poverty, Bearing in mind also that microcredit programmes have especially benefited women and have resulted in the achievement of their empowerment, Noting with appreciation the establishment of the United Nations Advisers Group on Inclusive Financial Sectors to promote the building of inclusive financial sectors to meet the needs and demands of poor people everywhere, building on the creation of the “Blue Book” 1 as a tool for policymakers seeking to build more inclusive financial sectors, Noting events organized for the promotion of inclusive financial sectors, including the convening of the Global Microcredit Summit in Halifax, Canada, from 12 to 15 November 2006, _______________ 1 06-50721 Building Inclusive Financial Sectors for Development (United Nations publication, Sales No. E.06.II.A.3).