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Support to the afghan microfinance and the sme in the province of Herat, Farah and Badghis

Afghanistan

€ 6,400,000
Committed
€ 6,400,000
Used

Agency

Italian Agency for Development Cooperation (DGCS until 2015)

Channel reported

AFGHANISTAN

Description

In March 2011 the Afghan Ministry of Finance (MoF) and the Microfinance Investment Support Facility for Afghanistan (MISFA) entered into an agreement to implement the Italian Support to Afghan Microfinance and Enterprises (ISAME) project (AID 9309.01.6). However the microfinance and SME sector started declining at national level since the project was first proposed. In addition, one of the leading microfinance institutions, BRAC had to exit the sector due to its portfolio quality and operational management issues. As a result ISAME project intervention has been limited so far only to microfinance component through the Micro-Finance Institution (MFI) OXUS and training through Financial Associations, for a total amount spent of Euro 833,061 out of a total disbursed budget by DGCS of Euro 6.4 Mil. (ex Art. 15 DPR 177/88) In order to reactivate the ISAME Project, MISFA and MOF proposed to align the Project revision with a program financed by the World Bank “Access to Finance”, which include a component defined “Targeting the Ultra Poor” (TUP). On 10th December 2014 the revision of the ISAME Project was approved by the Steering Committee for the Development Cooperation of the Italian Ministry of Foreign Affairs and International Cooperation. read more close

Year Committed Used
2010 - € 6,400,000
2009 € 6,400,000 -

Project data

  • Expected start date 03/11/2009
  • CRSID2010001796
  • Purpose Informal/semi-formal fin. intermed.
  • Finance type Aid grant excluding debt reorganisation
  • Flow type ODA Grants
  • Bi/Multilateral Bilateral