MICROCAPITAL BRIEF: Senegal, IFAD Engage Développement International Desjardins (DID) to Research Financial Inclusion in West Africa

Développement International Desjardins (DID), a nonprofit subsidiary of Canadian cooperative Desjardins Group, has been awarded two new mandates relating to financial inclusion in the Ivory Coast and Senegal.

The International Fund for Agricultural Development (IFAD), an agency of the United Nations that aims to alleviate rural poverty, is funding DID to identify the financial needs of subsistence farmers in the Ivory Coast. DID and IFAD hope to use the information gathered to increase financial inclusion for farmers via financing mechanisms tailored to their needs.

The second mandate is to perform a national survey on financial inclusion in Senegal. It is financed by the Microfinance Directorate of the Ministry of Women, Family and Children an entity of the government of Senegal, a governmental entity that oversees microfinance and family planning in the country. The data from the survey will be used to assist policymakers in seeking to increase access to formal financial services and improving the quality of services. DID performed a similar survey in Burundi in 2012.

The Desjardins Group reported approximately USD 200 billion in assets as of 2012. IFAD disbursed new commitments of USD 2.7 billion during 2013, bringing its portfolio of ongoing projects to USD 8.3 billion. Financial information for the Microfinance Directorate of the Ministry of Women, Family and Children is not available.

By Emily Teleposky, Research Associate

About Développement International Desjardins:
DID is a Canadian nonprofit corporation that specializes in providing technical support and investment for the community finance sector in emerging economies. It assists organizations in approximately 30 nations in Africa, Asia, the Caribbean, Central and Eastern Europe and Latin America. DID is a component of the Desjardins Group, a financial cooperative offering banking, insurance, securities and investment services, with approximately USD 200 billion in assets as of 2012. DID has three funds that provide loans and investment capital to microfinance institutions and funds specializing in microfinance: the Investment Fund for International Development (FONIDI), the Partnership Fund and the Guarantee Fund.

About United Nations International Fund for Agricultural Development (IFAD):
The International Fund for Agricultural Development (IFAD), an agency of the United Nations, was established in 1977 as an outcome of the 1974 World Food Conference. IFAD is dedicated to eradicating rural poverty in developing countries by focusing on country-specific solutions. IFAD disbursed new commitments of USD 2.7 billion during 2013, bringing its portfolio of ongoing projects to USD 8.3 billion. IFAD operates in 97 countries as of 2013.

Additional Sources and Resources:

[1] Two Mandates Targeting Financial Inclusion in West Africa for DID-Senegal http://did.qc.ca/en/publications/newsletter/two-mandates-targeting-financial-inclusion-west-80/

[2] MICROCAPITAL BRIEF: Canada’s Development International Desjardins (DID), Belgian Investment Company for Developing Countries Partner to Finance Small Enterprises in Central Africa, April 26, 2012, https://www.microcapital.org/microcapital-brief-canadas-development-international-desjardins-did-belgian-investment-company-for-developing-countries-partner-to-finance-small-enterprises-in-central-africa/

[3] MICROCAPITAL BRIEF: Développement International Desjardins (DID), Financière agricole du Québec – Développement international (FADQDI), Inter-American Institute for Cooperation on Agriculture (IICA) Collaborate on $20m Agricultural Microfinance Project Funded by Canadian International Development Agency (CIDA), Haitian Government, July 31, 2011,https://www.microcapital.org/microcapital-brief-developpement-international-desjardins-did-financiere-agricole-du-quebec-–-developpement-international-fadqdi-inter-american-institute-for-cooperation-on-agriculture/

[4] MicroCapital Universe Profile: International Fund for Agricultural Development, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Fund+for+Agricultural+Development+%28IFAD%29

[5] MicroCapital Universe Profile: Développement International Desjardins, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Développement+international+Desjardins+%28DID%29

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more athttps://www.microcapital.org/products-page/

Similar Posts: