Project profile — Financial Inclusion for Micro- Small and Medium-Sized Enterprises

The expected outcomes for this project include: (1) improved provision of client-centred, gender-equal, and human rights-based financial services to low-income individuals and entrepreneurs, particularly women, by FINCA Haiti and FINCA Democratic Republic of Congo; (2) increased use of financial services by micro, small and medium-sized enterprises, particularly those controlled by women, in Haiti and the Democratic Republic of Congo; and (3) increased use of financial services and technical assistance on business development, natural resource management (such as water, fertilizer, pesticide, and waste management), and climate change adaptation by agricultural entrepreneurs, particularly those controlled by women, in Haiti.

Results achieved as of September 2021 include: (1) reached 438,000 low-income people in the Democratic Republic of Congo and Haiti with financial services (36% women); (2) launched the Just for Her loan product in the Democratic Republic of Congo, targeting micro-small, and medium-sized enterprises controlled by women. Also distributed USD 6.6 million to 1,001 women since its release in March 2021; (3) in Haiti, the agricultural loan product continues its success, with beneficiaries doubling in year four and reaching a cumulative total of 2,080 beneficiaries, of whom 83% women who work in the agricultural value chain; (4) cumulatively trained over 216,000 clients in financial literacy (65% women); (5) in Haiti, the number of MonCash users almost doubled from year three to year four, reaching a cumulative total of 18,361 users, as Foundation for International Community Assistance Haiti continued to absorb transaction costs; (6) in the Democratic Republic of Congo, the number of mobile savings clients continued to increase, reaching 158,568 active clients in year four, an increase of 32,000 more active mobile savers than last year; and (7) two new branches opened in the Democratic Republic of Congo, increasing accessibility to financial services for low-income populations living in the regions of Tanganyika (Kalemi) and Haut Uélé (Durba). Digital channels and mobile banking continued to benefit clients in both countries. Also, effective subsidiaries have enabled women's financial inclusion in their countries. Together, these results contribute to increased economic prosperity for low-income people, especially women, in Haiti and the Democratic Republic of Congo.