Rural Finance Programme

Rural Finance Programme

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Throughout rural areas in Belize, lack of access to credit and other financial services hinders the development of income-generating activities. The purpose of this nationwide programme is to support and strengthen rural financial services that are tailored to the needs of poor farmers and small rural communities. Inclusiveness and sustainability are key features, and the overall objectives are to enhance rural development and reduce poverty, particularly among disadvantaged groups such as Mayans.

The target group includes small-scale farmers, microentrepreneurs, craft workers, subsistence fishers, rural wage workers and indigenous communities. Within the target group, the programme will focus particularly on women and young people.

The specific objectives of the programme are to:

• improve the governance, management and operational capacities of credit unions
• strengthen the Belize Credit Union League to expand its capacity for developing, coordinating and training
• provide rural financial services, especially for agricultural production and non-agricultural enterprises
• foster the capitalization of credit unions and clients by affiliating poor rural people and mobilizing their savings
• establish a knowledge management system

The programme will build on the experience of the credit union movement in the country, and on the previous IFAD-funded operation in the southern region of Belize. It will scale up support for rural financial services to a national level. The programme will develop a support package for participating credit unions to help them expand and diversify their services and adapt them to poor rural clients.

Project website

Source: IFAD