Madagascar: $45 Million to Promote Financial Inclusion of Individuals and Small Enterprises

Tuesday, March 6, 2018

The World Bank approved today a $45 million International Development Association (IDA)* credit to promote the financial inclusion of individuals and micro, small and medium-sized enterprises in Madagascar.

Madagascar Financial Inclusion project will specifically target women and women-owned enterprises, to reduce disparities in access to finance for women. The direct beneficiaries of the project will include teachers, students and taxpayers that will have the option to receive and make government payments through an e-money transaction account. Among other direct beneficiaries are also the microfinance institutions customers, particularly in rural areas. Mobile money operators will benefit from increased use of their e-money services as well as expansion of their agent network.

Photo courtesy of fsecart.

Source: Modern Diplomacy (link opens in a new window)

financial inclusion, fintech, microfinance