IFAD - International Fund for Agricultural Development

Published purpose

The project seeks to provide at least 100,000 poor and vulnerable individuals, notably women and youth, with access to financial services adapted to their socio-economic development needs. It operates in the rural regions, which are among the country’s poorest (Ségou, Sikasso, Koulikoro, Mopti, Tombouctou et Kayes). In addition, the project seeks to help reorganize and professionalize the microfinance sector by contributing to the financial sustainability of 15 microfinance institutions and by strengthening two national microfinance oversight structures. The project has three main components: (1) geographically extending financial services to agricultural regions and developing new financial products that are better suited to rural populations; (2) developing and guiding the process to consolidate microfinance institutions; and (3) funding the development of new financial products. The main activities include the following: (1) developing and promoting financial services adapted to the agricultural activity needs of the populace, especially women and youth; (2) establishing points of service in agricultural regions; (3) providing support to the microfinance institution control and monitoring unit to ensure compliance with the regulatory framework and to boost recipients’ confidence; and (4) training the staff of microfinance institutions and of oversight organizations (such as Mali’s professional association of microfinance institutions) and building these institutions’ capacity to regulate and develop the microfinance sector and promote it among the most vulnerable populations.