MICROCAPITAL BRIEF: World Wide Fund for Nature (WWF) Establishes 2 Credit Unions Targeting Fishing Industry in Senegal

The World Wide Fund for Nature (WWF), a US-based environmental non-governmental organization (NGO), recently announced its establishment of two credit unions geared towards people involved in fishing in the Senegalese villages of Cayar and Popenguine. These credit unions are intended to provide small loans for fishing, fish processing, wholesale fish trade, gardening and agriculture.

According to Amadou Camara, the Conservation Director at WWF’s Senegal office, the organization plans to expand these institutions into a credit union network with branches in villages including Somone. According to a statement attributed to Diene Ndiaye, the consultant overseeing this program, the NGO also plans to implement the credit unions as part of its broader Go-WAMER (West African Marine Eco-Region) project that addresses poverty reduction, governance, food security and policies for managing coastal resources in the region.

As of 2013, WWF had total revenue of USD 266.3 million, total expenses of USD 266.1 million and total net assets of USD 318.8 million. The organization has approximately 1,300 projects in 100 countries.

By Ananya Tiwari, Research Associate

About World Wide Fund for Nature (WWF)
The World Wide Fund for Nature (WWF) was founded in 1961 with the mission of conserving nature globally. The organization was originally known as World Wildlife Fund but decided to change its name in 1986 because it felt its activities had broadened beyond the scope of that name. As of 2013, WWF had total revenue of USD 266.3 million, total expenses of 266.1 million, and total net assets of USD 318.8 million. The organization has approximately 1,300 projects in 100 countries.

Sources and Additional Resources

[1] The Point, http://thepoint.gm/africa/gambia/article/wwf-senegal-office-micro-finance-programme-establishes-cooperative-credit-unions

[2] All Africa, http://allafrica.com/stories/201410132655.html

MicroCapital, October 17, 2014, Oxus Raises $4.2m in Equity from Investors including Agency for Technical Cooperation and Development (ACTED) for Expansion in Asia, Africa, https://www.microcapital.org/microcapital-brief-oxus-raises-4-2m-in-equity-from-investors-including-agency-for-technical-cooperation-and-development-acted-for-expansion-in-asia-africa/

MicroCapital, October 15, 2014, African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), World Bank Group (WBG) Issues Joint Statement on Climate Finance,https://www.microcapital.org/microcapital-brief-african-development-bank-afdb-asian-development-bank-adb-european-bank-for-reconstruction-and-development-ebrd-european-investment-bank-eib-inter-american-development-b/

MicroCapital Universe Profile: World Wide Fund for Nature (WWF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=World+Wide+Fund+for+Nature+%28WWF%29

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