Mennonite Economic Development Associates (MEDA), a Canada-based nonprofit that aims to alleviate poverty through financial investment via 227 partner institutions in 56 countries, and its Morocco division, MEDA Maroc, are launching the “Financial Solutions Youth” project in an effort to support Moroccan microfinance institutions (MFIs) in improving access to financial services for youth. MEDA Maroc will offer MFIs training modules covering the following topics as they relate specifically to serving youth: 1) customer service for MFIs; 2) product development offerings; and 3) risk management. In addition, MEDA Maroc will provide those MFIs that have completed the three modules with tailored assistance overseen by a team of local and international consultants. Details of the project funding have not disclosed. As of 2012, MEDA reported total assets of USD 180 million and a client base of 14 million people.
By Jennifer Young, Research Associate
About Mennonite Economic Development Associates:
Mennonite Economic Development Associates (MEDA) is a Canada-based nonprofit dedicated to helping families who are living in poverty in the developing world through investment, primarily microfinance. MEDA has 227 partners and operates in 56 countries as of 2013. MEDA’s history dates back to 1953 when a group of Mennonite businessmen invested in a dairy farm in Paraguay. MEDA’s Product Lines include the following: (1) Investment fund development, establishing private investment as an effective solution to global poverty; (2) member engagement, helping their members strengthen faith-work development connections in their own lives and in all the places touched by their work; (3) microfinance, providing innovative and sustainable access to savings and credit for the poor; and (4) production & marketing linkages, providing innovative and sustainable access to markets for small producers and/or giving the poor better access to products that serve their basic needs. As of 2012, MEDA reported total assets of USD 180 million and a client-base of 14 million people.
Sources and Additional Resources
CGAP Microfinance Gateway Story: Morocco: MEDA Maroc Offers Technical Assistance to Develop Financial Solutions for Youth
http://www.microfinancegateway.org/p/site/m/template.rc/1.9.61402/
MicroCapital Story: “MICROCAPITAL BRIEF: Moroccan Government Projects Microcredit Will Create 2 Million Jobs Over 10 Years, Extension of Microfinance Tax Exemption Proposed,” December 21, 2012.
https://www.microcapital.org/microcapital-brief-moroccan-government-projects-microcredit-will-create-2-million-jobs-over-10-years-extension-of-microfinance-tax-exemption-proposed/
MicroCapital Story: “MICROCAPITAL BRIEF: Arab Spring Foundation’s Farasee Seeking to Raise $1b for “1 Million Jobs for MENA Initiative” in Morocco,” December 11, 2012.
https://www.microcapital.org/microcapital-brief-arab-spring-foundations-farasee-seeking-to-raise-1b-for-1-million-jobs-for-mena-initiative-in-morocco/
MicroCapital Story: “MICROCAPITAL BRIEF: HSBC to Provide Technical Assistance to Microfinance Institutions in the Middle East, North Africa in Partnership with Grameen-Jameel, Bankers Without Borders,” May 9, 2012.
https://www.microcapital.org/microcapital-brief-hsbc-to-provide-technical-assistance-to-microfinance-institutions-in-middle-east-north-africa-in-partnership-with-grameen-jameel-bankers-without-borders/
MicroCapital Story: “MICROCAPITAL BRIEF: Access to Microfinance Boosting Youth Employment in Algeria, Morocco, Tunisia,” Tuesday, September 13, 2011.
https://www.microcapital.org/microcapital-brief-access-to-microfinance-boosting-youth-employment-in-algeria-morocco-tunisia/
MicroCapital Story: “MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2009 Arab Microfinance Report with Focus On Microfinance Sector Crisis in Morocco,” June 1, 2010.
https://www.microcapital.org/microcapital-brief-microfinance-information-exchange-mix-releases-2009-arab-microfinance-report-with-focus-on-microfinance-sector-crisis-in-morocco/
MicroCapital Story: “MICROCAPITAL BRIEF: Moroccan Government Supports Microfinance Industry’s Path to Recovery in 2010,” January 20, 2010.
https://www.microcapital.org/microcapital-brief-moroccan-government-supports-microfinance-industry%E2%80%99s-path-to-recovery-in-2010/
MicroCapital Universe Profile: Menonite Economic Development Associates
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mennonite+Economic+Development+Associates+%28MEDA%29
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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