• The National Rural Savings and Credit Union Network Development Support Project (CREP) is Phase I in a long-term program that involves developing human resources, financial products and management tools to revitalize Ivory Coast's rural savings and credit union network. The goal of the project is to help civil society in Ivory Coast to control its economy.
  The project is designed to promote the development of effective and independent cooperative financial institutions (savings and credit unions). The main objective is to lay the foundation for a financial and institutional restructuring program to ensure the financial sustainability of grass-roots savings and credit unions at the end of the project.

1. Objectives
   i) To establish an effective institutional mechanism within the network; ii) to bring about the financial recovery of savings and credit unions identified at project start up; iii) to train network executives and managers to achieve effective management of each CREP; iv) to assist in developing the network through greater awareness, to restore people's confidence and to ensure better ownership of the movement by its members.
2. Activities / contents
   Establishment and management of the regional delegations of Abidjan, Bouaké and Man
   • Implementation of a diagnostic study of the performance of credit unions
   • Closure of non-sustainable credit unions
   • Opening of 51 new credit unions
   • Increase in membership from 10,444 in 1993 to 150,000 in 1999
   • Increase in the number of women members to 30,000 in 1999
   • Increase in the volume of savings from 376 million CFA francs in 1993 to 14 billion CFA francs in 1999
   • Increase in the volume of loans from 250 million CFA francs in 1993 to 5 billion CFA francs in 1999
   • Development of range of financial products available to women, small business and small industry
   • Training of three regional-national delegates to replace Canadian expatriate resources in Man (3rd year), Bouaké (5th year) and Abidjan (5th year)
   • Development of a training and information program
3. Expected outcomes / impacts
   i) Non-sustainable credit unions are closed. ii) Credit unions with potential are supported and developed. iii) Credit unions are established and developed in communities with high potential. iv) Most credit unions are or are about to become profitable. v) Tools, control mechanisms and training programs are available and used. vi) Communities at the regional level are actively involved in the growth of the network. vii) Members control their network.
4. Features in line with the Agenda for Action
   i) Poverty reduction; ii) economic development (private-sector development)
   Cross-cutting theme: Promotion of women

Janik Bouchard 997-1509