Savings and Credit Union Support (PAMECAS)
Project / Program Summary

Sector(s):	Micro-finance
Title:	Savings and Credit Union Support (PAMECAS)
Donor country / organization:	Canada / CIDA
Other donors / organizations involved:	None
Recipient countries / regions:	Senegal
Executing agencies in recipient countries / regions:	Développement International Desjardins (DID)
Duration:	5 years
Starting Date:	July 1994
Project / Program budget:	$4.95 million
Finance / Type of cooperation:	Technical cooperation

Objectives
Creation or consolidation of mutual financial intermediation institutions (savings and credit unions).
Activities / contents
To date, 19 credit unions have become operational. The Production Savings and Credit Alliance (ACEP) has been supported in its mutualization process, especially in setting up a savings mobilization service for entrepreneurs. A group of trainers has been set up (300 people trained), including 30 executives and credit union operators. Nearly 5000 people have received training, 63% of them women.
Expected outcomes / impacts
Established of 20 savings and credit unions in urban areas of Dakar, mobilizing 18,000 members and 622 million CFA francs in savings. Strengthening of ACEP's organizational and financial independence. On a more long-term basis, reduction of financial intermediation costs for households and small economic operators. This project exceeded its initial objectives even before it was completed, and is seen as a model in Senegal.
Features in line with the Agenda for Action
The project's activities are in line with the third item in the Agenda for Action, that is, economic development, especially private-sector (microenterprise) development. Cross-cutting themes: the project relies on capacity building and the integration of women in its activities.

Marc-André Fredette, Regional Director, Atlantic West Africa: (819)997-6119

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