Burundi: AFD grants €3 million to develop microfinance

May 12, 2014

A €3 million agreement to support the implementation of the 2012 - 2016 microfinance sector strategy in Burundi was signed Tuesday (6 May) between France, Burundi and the French Development Agency (AFD).

A €3 million agreement to support the implementation of the
2012 - 2016
microfinance sector strategy in Burundi was signed Tuesday (6 May) between France, Burundi and the French Development Agency (AFD).

The AFD funding will be allocated to the FORCE fund, a public institution whose purpose is to mobilize financial resources to improve access to financial services for populations that do not benefit from the conventional banking system.

This project will contribute to the creation of microfinance products tailored to customer needs and will also support the development of a network of small businesses, which are considered a source of economic dynamism, job creation and income.

Access to banking services is an important issue for the country. According to the Embassy of France in Burundi, microfinance services have a positive impact on the poor, who can secure their savings, seize entrepreneurial opportunities, or invest in durable goods such as housing and education.ADNFCR-2976-ID-801719253-ADNFCR