Regional Support to Rural Finance
Strengthening the Framework for the Provision of Investment Capital for the Rural Poor in Sub-Saharan Africa (IFAD)
Project / Programme Summary
I.Basic data
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II. Project / program description
Objectives
AFRACA, formed in 1977, is a regional organization with a membership composed of central banks, national banks and relevant ministries addressing agricultural and rural credit issues in sub-Saharan Africa. This second phase grant has the following principal objectives;
(a) Helping AFRACA to become a knowledge centre on rural credit, so that it can provide a high level of technical and policy support to formal and informal financial institutions in the region;
(b) Promoting linkages between grass-roots organizations and formal banking institutions at the national, sub-regional and regional levels;
(c) Encouraging local financial institutions to use both donor funds and their own resources for extending rural credit.
Activities
(a) Strengthening of the Secretariat of AFRACA to train staff from member institutions in 'best practices' in rural finance, thus ensuring its own sustainability and autonomy;
(b) Promotion of Rural Finance through policy support, knowledge building and technology transfer at the national level;
(c) Expansion of Linking Banking programme to eight countries;
(d) Information networking for members by the establishment of an interactive AFRACA website managed by members;
(e) Women's financial Services Programme
Expected outputs /beneficiaries
(a) AFRACA membership increased by 9 new institutions with funding from 3 new donors.
(b) Eleven countries practising Linkage Banking.
(c) Six countries will have developed a conductive rural financial policy.
(d) Four women's programmes will be underway.
(e) Financial resources provided by member institutions to rural populations will have increased.
III. Contact point:
Ms. Marian Bradley, Economist, Africa II Division
(End)
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