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Maharashtra Rural Credit Project

Maharashtra Rural Credit Project

 

In an area comprising eight districts in Maharashtra state, this project aimed to reduce rural poverty and promote rural development by improving financial services, including savings, among rural poor people. The project improved the services of formal financial institutions and built reception capacity.

About 9,000 self-help groups and 1,500 village development councils were formed. They demonstrated financial discipline and showed an excellent repayment rate. Through the project's activities, women were empowered to improve their status both inside and outside the household.

Source: IFAD


Status: Closed

Country

India

Approval Date

06 April 1993

Duration

1993 - 2002

Sector

Credit and Financial Services

Total Project Cost

US$ 48.35 million

IFAD Financing

US$ 29.2 million

Co-financiers (International)

United Nations Development Program US$ 2 million

Co-financiers (Domestic)

Domestic Financing Institutions US$ 1.66 million

National Government US$ 14.98 million

Financing terms

Highly Concessional

Project ID

1100000325


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