IDA CREDIT: US$5 million
TERMS: Maturity = 40 years; Grace Period = 10 years
PROJECT DESCRIPTION: This additional financing is to support the Microfinance Project for the implementation of the Government of Madagascar’s Financial Sector Development Strategy and Action Plan. It will make it possible to provide technical support to Microfinance Institutions (MFIs) to increase their membership, savings and credit by at least 25% and to reach operational self-sufficiency for all networks, to support the implementation of the micro-finance law and the adoption of prudential regulation, to strengthen the capacity of the Central bank to properly supervise the MFIs licensed under the new law and complete the establishment of the national training program on microfinance.
