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Adapted Rural Financial Services Development Project

To contribute to the alleviation of rural poverty in Benin, this project aims to expand sustainable financial services tailored to the needs of smallholder farmers in its target areas. Project activities comprise three main components:

  • Professionalizing existing and new rural financial services, including microfinancing
  • Strengthening technical and professional support for microfinance institutions, and increasing information exchanges with strategic partners
  • Developing new, innovative rural financial products and services and improving existing products, all based on industry best practices.

By supporting rural financial institutions and service providers, the project will benefit at least 150,000 clients and will create hundreds of jobs in the rural finance sector. For smallholders, it will enhance financial autonomy and increase the level of credit available for the production, processing, storage and marketing of agricultural products. Source: IFAD

 
Status: Ongoing

Country

Benin

Approval Date

13 December 2012

Duration

2012 - 2022

Sector

Credit and Financial Services

Total Project Cost

US$ 35.17 million

IFAD Financing

US$ 27 million

Co-financiers (Domestic)

Beneficiaries US$ 1.34 million

National Government US$ 3.22 million

Financing Gap

US$ 3.6 million

Financing terms

DSF Grant/Highly Concessional

Project ID

1100001635

Project Contact

Pascal Kabore


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Project design reports

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Interim (mid-term) review report

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