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Programme for Rural Outreach of Financial Innovations and Technologies

Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT)

The goal of this programme is to contribute to the reform of financial sector policy in Kenya. It supports the development of a range of innovative financial products – such as savings and remittance services, community infrastructure loans, value-chain financing, medium-term financing for the agriculture sector, and index-based insurance and health insurance – and improves the access of poor rural households to these services. It also helps programme participants manage their assets, market their produce and increase their employment opportunities.

PROFIT works throughout Kenya's rural areas, especially in arid and semi-arid zones and areas with both agricultural potential and a high incidence of poverty. It reaches out to smallholder farmers, pastoralists, artisanal fishers, women, landless labourers and young people. The programme's goal is to increase the incomes of the target group by improving the productivity of rural smallholder farm and off-farm sectors.
 

Source: IFAD

 
Status: Closed

Country

Kenya

Approval Date

16 September 2010

Duration

2010 - 2019

Sector

Credit and Financial Services

Total Project Cost

US$ 83.22 million

IFAD Financing

US$ 29.91 million

Co-financiers (International)

Alliance for a Green Revolution In Africa US$ 2.75 million

Co-financiers (Domestic)

Private sector local US$ 50 million

Financing terms

Highly Concessional

Project ID

1100001378


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Interim (mid-term) review report

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