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Wednesday, 06 May 2015

EU-ACP Microfinance & financial services

The ACP-EU Microfinance programme, which was established with the aim to  build inclusive financial systems in ACP countries held its final  review in Brussels. The programme benefitted from €15 million over 5 years and  impacted 52 of the 79 ACP member countries (13 in Sub-Saharan Africa, 13 in the Caribbean and 7 in the Pacific), reaching more than 3.5 million financially under-served people with improved access to finance. By mixing direct contributions and partnerships with international organisations, the programme contributed to improved legal frameworks in 36 countries, building the capacity of national microfinance networks in nearly 30 countries, and supporting 2,443 local microfinance organisations to better serve the needs of the poor and improve financial capacity of nearly 500,000 people. Access to finance remains a key priority area of private sector development for both the European Commission and ACP Secretariat under the 11th European Development Fund (EDF).

Source: acp.int