Project profile — Agriculture and Rural Financing in Mali (FARM)



Overview 

CA-3-A034767001
$18,362,357
Consortium DID-FADQDI (CA-CRA_ACR-3104905757)
2014-09-30 - 2023-01-30
Closed
Global Affairs Canada
WGM Africa

Country / region 

• Mali (100.00%)

Sector 

• Banking And Financial Services: Informal/semi-formal financial intermediaries (24040) (25.00%)
• Agricultural policy and administrative management:
Agricultural policy and administrative management (31110) (15.00%)
Agricultural financial services (31193) (60.00%)

Policy marker 

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

Description 

This initiative supports several viable financial institutions to enhance their expertise and capacity in agricultural financing. It aims to address unmet agricultural producer demands for medium-to-long-term financial services in southern regions of Mali, namely Ségou, Koulikoro, Bamako, and Sikasso. In partnership with Développement International Desjardins and SOCODEVI, project activities include: (1) strengthening the capacity of local financial institutions in rural credit provision and management; (2) allowing targeted stakeholders to access Agricultural Input Savings Plans from selected financial institutions; (3) reducing the financial risk inherent to small-scale agriculture through crop insurance and loan-guarantee programs; and (4) strengthening the socio-economic power of women and youth while promoting good social and environmental practices in agricultural activities.

Expected results 

The expected outcomes of this project include: (1) increased use of financial services by producers, particularly women and young people; and (2) improved management of risks related to credit supply, uncontrollable natural hazards, and the environment in selected agricultural production value chains.

Results achieved 

Results achieved at the end of the project (June 2021) include: (1) strengthened capacities of 4 microfinance institutions and 2 banks in agricultural financing and risk analysis; (2) granted financing of 5.1 billion CFA francs ($11.8 million) to targeted sectors through 26,762 agricultural loans (including 51.68% of these loans granted to women); (3) improved coordination of the value chain, including identification of stakeholders and strengthened coordination mechanisms; (4) implemented 6 partnership agreements in the parboiled rice value chain and 20 commercial agreements implemented in the onion value chain in Baguinéda; (5) improved access for agricultural producers and financial institutions to financial protection mechanisms through a new operational loan guarantee program dedicated to agricultural financing and 3 new operational crop insurance programs; (6) improved integration of young people into agricultural activity through 5 initiatives implemented to support young people in drawing up business plans and obtaining credit from financial institutions; (7) improved integration of women into agricultural activity and increased promotion of gender equity through 11 new women's initiatives; (8) increased capacity of women in targeted sectors to receive credit and crop insurance, and increased access of women to training on topics such as financial services, business plans, leadership and public speaking; (9) promoted and integrated sustainable development practices through 10 new environmental initiatives; (10) sensitized borrowers to the environmental impact of agricultural practices through training programs on climate change; and (11) strengthened capacities of 4 microfinance institutions and 2 banks in environmental protection.

Budget and spending 


Original budget $0
Planned disbursement $0
Transactions
Transaction Date Type Value
20-12-2023 Disbursement $880,996
Country percentages by sector
Type of finance Aid grant excluding debt reorganisation
Collaboration type Bilateral
Type of aid Project-type interventions
Date modified: