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Rural Enterprise Finance Project

In Mozambique, despite the opportunities created by rising demand for food, a lack of resources, financial services and market access often holds rural people back. Inadequate access to financial services and technical resources is becoming an increasingly critical constraint for smallholder farmers seeking to expand and intensify their activities.

The Rural Enterprise Finance Project (REFP) will focus on the poor and disadvantaged to ensure that rural finance services reach underserved communities and financially excluded groups. Across ten provinces, it will help more than 287,700 rural people engaged in agriculture, fisheries and small and medium-sized enterprises as direct beneficiaries to improve their access to national and regional markets.

REFP aims to increase the availability and use of appropriate, affordable and innovative financial and technical support services. By improving financial literacy and capacity, it also aims to help raise very poor rural people to a level where they are creditworthy. In addition, digital financial services will be developed for agricultural and rural finance products. At the same time, rural agricultural and non-agricultural entrepreneurs will undergo training, and institutions working with the rural population will receive support.

Status: Ongoing

Country

Mozambique

Approval Date

16 April 2018

Duration

2018 - 2024

Sector

Credit and Financial Services

Total Project Cost

US$ 72.54 million

IFAD Financing

US$ 62.15 million

Co-financiers (Domestic)

Private sector local US$ 5 million

Beneficiaries US$ 1.1 million

National Government US$ 4.29 million

Financing terms

DSF Grant

Project ID

2000001175

Project Contact

Robson Mutandi


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