International Development Grant
Project to Support the Economic and Social Empowerment of Women and Youth in Senegal
Project Number: CA-3-P007765001
Status: Operational
Country/Region:
Maximum Contribution: $18,566,285.00
Start Date: September 05, 2022
End Date: September 30, 2028
Duration: 6.1 years
Project Description
This project aims to strengthen the socio-economic empowerment of 60 000 women and 6 000 young entrepreneurs in southern Senegal and peri-urban regions through a three-tiered financial inclusion strategy. Project activities include: (1) working in partnership with communities and local organizations to address constraints related to using financial products and services by women and youth to increase productive investment in businesses owned by this population; (2) working closely with community-based financial institutions to eliminate constraints on accessing financial products and services; and (3) providing state actors with technical support to make gender equality strategies more coherent and relevant when developing implementing and evaluating financial inclusion programs and policies.
Expected Results
The expected outcomes of this project include: (1) increased access to financial products and services tailored to the needs and sustainable practices of businesses owned by women and young graduates; (2) increased productive investments by women and young graduates in their business; and (3) enhanced coherence in taking gender equality into account in the financial inclusion policies and programs that state actors develop and implement.
Progress & Results Achieved
Results achieved as of March 2025 include: 1. Signing of 5 collaborations agreements with 5 partner financial institutions (PFIs); 2. Development of the innovation fund instrumentation aimed at supporting PFIs in their digital transformation. 3. Development of a financial education and entrepreneurship support program in collaboration with partner financial institutions and the sectoral ministries involved. 4. Establishment of a network of local organizations composed of 6 partners to deliver the financial education training program and support services to entrepreneurs. 5. Business management training for 1 255 entrepreneurs including 147 young graduates and 121 women. 6. Signing of a management agreement with the Priority Investment Guarantee Fund (FONGIP) on the guaranteed mechanism. 7. Signing three (3) implementation contracts with non-financial support organizations for the delivery of financial training. 8. Development of five financial education modules for women and youth: (i) budgeting (ii) savings (iv) loans credit and debt (iv) financial negotiation and (v) financial products and services. 9. Training of trainers for 49 experts from project partners. These experts will ensure the modules are rolled out to beneficiaries. 10.Development of two financial education programs: one comprehensive program for beneficiaries accessing financial education for the first time and a simplified program for those who have already received training or for active entrepreneurs. 11. Launch of financial education programs for 25 001 female beneficiaries in groups.
Key Information
Executing Agency:
DID - Développement international Desjardins
Reporting Organization:
Global Affairs Canada
Program:
WGM Africa
Last Modified:
September 19, 2025
Development Classifications
DAC Sector:
Aid Type: Project-type interventions
Collaboration: Bilateral
Finance Type: Aid grant excluding debt reorganisation
Selection Mechanism:
Unsolicited Proposal