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National Microfinance Support Programme

National Microfinance Support Programme

The programme directly supports financial institutions under the guarantee of the central government. It has the aim of improving and expanding access to microfinance services for poor people in both rural and urban areas. It will help develop a more formal, extensive and effective microfinance sector on a national scale and it will support the development of sustainable microfinance institutions.

IFAD funding, which is restricted to rural and semi-rural areas, focuses on lending to third parties, usually self-help groups. The programme has leveraged an IFAD loan of US$22 million to access a grant fund of US$23.5 million and a total loan and equity fund of US$89 million. This programme also takes an innovative approach towards commercializing the microfinance sector.

Source: IFAD


Status: Closed

Country

India

Approval Date

04 May 2000

Duration

2000 - 2009

Sector

Credit and Financial Services

Total Project Cost

US$ 134.03 million

IFAD Financing

US$ 21.96 million

Co-financiers (International)

United Kingdom: Department for International Cooperation US$ 23.54 million

Co-financiers (Domestic)

Domestic Financing Institutions US$ 88.52 million

Financing terms

Highly Concessional

Project ID

1100001121

Project Contact

Mattia Prayer Galletti


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