International Development Grant
Support to Inclusive Rural Financing in Mali (AFIRMA)
Project Number: CA-3-D000116001
Status: Closed
Country/Region:
Maximum Contribution: $12,768,000.00
Start Date: October 13, 2014
End Date: December 31, 2018
Duration: 4.2 years
Project Description
The project seeks to provide at least 100 000 poor and vulnerable individuals notably women and youth with access to financial services adapted to their socio-economic development needs. It operates in the rural regions which are among the country’s poorest (Ségou Sikasso Koulikoro Mopti Tombouctou et Kayes). In addition the project seeks to help reorganize and professionalize the microfinance sector by contributing to the financial sustainability of 15 microfinance institutions and by strengthening two national microfinance oversight structures. The project has three main components: (1) geographically extending financial services to agricultural regions and developing new financial products that are better suited to rural populations; (2) developing and guiding the process to consolidate microfinance institutions; and (3) funding the development of new financial products. The main activities include the following: (1) developing and promoting financial services adapted to the agricultural activity needs of the populace especially women and youth; (2) establishing points of service in agricultural regions; (3) providing support to the microfinance institution control and monitoring unit to ensure compliance with the regulatory framework and to boost recipients’ confidence; and (4) training the staff of microfinance institutions and of oversight organizations (such as Mali’s professional association of microfinance institutions) and building these institutions’ capacity to regulate and develop the microfinance sector and promote it among the most vulnerable populations.
Expected Results
The expected outcomes for this project include: Mali's microfinance sector is professionalized and cleaned up and institutional actors play their roles effectively in perfect synergy and complementarity; decentralized financial systems have improved their performance and reach in rural areas; the sectoral positioning of the rural microfinance programme is strengthened and contributes effectively to the sustainable access of populations in general and the rural poor in particular to SFD financial services that meet their socio-economic development needs.
Progress & Results Achieved
Results achieved as of the end of the project (December 2018) include: (1) increased the technical abilities of the Cellule de contrôle et surveillance des systems financiers décentralisés the Association professionnelle des systèmes financiers décentralisés and the Centre de promotion et d’appui des systèmes financiers décentralisés through monitoring and evaluation methods and targeted training for staff; (2) increased the annual income of 35% of beneficiaries resulting in a significant increase in access to goods and equipment; (3) supported 704 568 beneficiaries (of which 324 576 women) by facilitating their access to decentralized financial systems; (4) created 15 decentralized financial systems and more than 714 savings and credit groups in the regions of Kayes Koulikoro Ségou Sikasso and Mopti allowing more than 20 600 rural people (of which 16 571 women) to benefit from the services; and (5) increased the total balance sheet of 15 decentralized financial systems partners by 20% from 91.3 billion CFA to 109.7 billion CFA.
Key Information
Executing Agency:
IFAD - International Fund for Agricultural Development
Reporting Organization:
Global Affairs Canada
Program:
WGM Africa
Last Modified:
September 19, 2025
Development Classifications
DAC Sector:
Aid Type: Contributions to specific-purpose programmes and funds managed by implementing partners
Collaboration: Bilateral
Finance Type: Aid grant excluding debt reorganisation
Selection Mechanism:
Department-Initiated