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Rural Financial Intermediation Programme

Rural Financial Intermediation Programme

 

Poor people living in rural areas need access to credit on a regular basis so they can build up their assets and diversify their income-generating activities. This programme is designed to benefit poor people who have no access to basic financial services because of limited outreach and because they have no collateral. Such people often depend on moneylenders, paying exorbitant rates of interest and depleting their resources.

By training rural poor people how to use and benefit from financial services, the programme helps them become clients of existing microfinance institutions, building confidence and reinforcing a culture of credit discipline. About 40,000 women will benefit from training in business skills, and about 14,000 centre and group leaders will share experiences relating to successful microfinance activities in other parts of the country. The programme will promote the establishment of 3,375 rural savings and credit cooperative societies owned and managed by their members.

Source: IFAD


Status: Closed

Country

Ethiopia

Approval Date

06 December 2001

Duration

2001 - 2010

Sector

Credit and Financial Services

Total Project Cost

US$ 88.73 million

IFAD Financing

US$ 25.69 million

Co-financiers (International)

African Development Bank US$ 37.5 million

Co-financiers (Domestic)

Domestic Financing Institutions US$ 21.08 million

National Government US$ 4.46 million

Financing terms

Highly Concessional

Project ID

1100001173


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