Project profile — Popular Economy Building

• Senegal (100.00%)

• Government And Civil Society, General: Public sector policy and administrative management (15110) (34.00%)
• Banking And Financial Services: Informal/semi-formal financial intermediaries (24040) (66.00%)

• Gender equality (significant objective)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (not targeted)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (not targeted)

After the Government of Senegal approved the Microfinance Sector Policy Letter (LPS) in 2005, this project focused on microfinance to improve the rate of economic activity in the country. The project aims to reorganize credit supply to benefit promoters of economic projects and to strengthen the capacities of assistance and support organizations in the Kolda and Niayes regions.

N/A

Results achieved as of the end of project (June 2013) include: (1) six credit unions have been implemented in the Niayes region, counting 19 468 members, including 64 % of women as of 2008 (exceeding the total number of members planned of 15,756, with 40 % of women). In 2008, these unions have achieved financial independence with 105 %, exceeding the percentage planned of 75 %; (2) a review of management practices was conducted for Kolda credit unions, including the development and validation of procedures manuals; (3) recruitment activities and staff training were also conducted, allowing Niayes’ credit unions to improve their range of financial services; (4) the project has also supported the research and development of new products and services tailored to the needs of small farmers; and (5) finally, the project has strengthened the capacity of Senegal’s National Coordinating Committee and the professional association of savings and credit microfinance institutions, to help to implement Senegal’s Microfinance Sector Policy Letter. These results have contributed to improve access to, and diversification of, financial services in the Kolda and Niayes regions for more than 20,000 Senegalese, especially women.

• Proactive disclosure