The government of Benin recently increased the budget of its “Microcredit for Very Poor People” program to XOF 3 billion (USD 5.2 million) from XOF 1.2 billion (USD 2.2 million). The program serves people “ineligible for classical bank financing” from Benin’s ten commercial banks. Since it was established in 2007, it reportedly has helped “2 million people to get out of hand-to-mouth existence in Benin.” Details of the program, such as any intermediaries that may be involved, are unavailable.
By Jacob O’Driscoll, Research Associate
Sources and Additional Information
Benin announces 5 mln USD microcredit budget for the poor
http://news.xinhuanet.com/english/2017-07/15/c_136446246.htm
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