International Development Grant
Support for the Development Professionalization and Consolidation of Microfinance
Project Number: CA-3-D002283001
Status: Closed
Country/Region:
Maximum Contribution: $17,664,362.00
Start Date: January 19, 2017
End Date: January 31, 2023
Duration: 6.0 years
Project Description
This project contributes to improving the economic situation of the most disadvantaged populations in Benin especially women. With the support of Canada Développement international Desjardins supports the consolidation professionalization and development of the microfinance sector including strengthening the institutional capacities of the entities responsible for its governance. Project activities include: (1) supporting the National Agency for the Supervision of Decentralized Financial Systems in the implementation of the microfinance sector consolidation strategy; (2) developing a training program and tools focused on financial and credit management for the 10 decentralized financial systems supported by the project (90% of the market); (3) establishing a financial centre for entrepreneurs subject to the positive conclusions of a feasibility study (300 entrepreneurs would use this centre); (4) offering demand-driven financial products or services (3 financial products developed including 2 for women); (5) educating populations on basic financial concepts (900 training courses would be given to a total of 45 000 people). This project supports the National Agency for the Supervision of Decentralized Financial Systems the Microfinance Promotion Directorate the Professional Association of Decentralized Financial Systems the Faîtière des Caisses d’Épargne et de Crédit Agricole Mutuel of Benin and nine other decentralized financial systems.
Expected Results
The expected intermediate outcomes for this project include: (1) increased environmentally sensitive financial inclusion particularly for those living in rural areas and vulnerable populations including women and youth; (2) modernized and more professional microfinance sector including an increased role for women; and (3) strengthened microfinance sector monitoring and consolidation by the State.
Progress & Results Achieved
Results achieved as of the end of the project (January 2022) include: (1) ongoing improvements in the oversight and consolidation of the microfinance sector. This has been made possible by the operationalization and reinforcement of the Agence nationale de surveillance des systèmes financiers décentralisés. This guarantees that no structure will operate illegally in Benin; (2) The project partner the decentralized financial systems (DFS) have improved access to their financial services. As a result implementation of the financial inclusion strategy has led to the opening of nearly 140 000 new individual bank accounts including 82 300 bank accounts for women. This brought the total number of new bank accounts opened to over 744 600 including 436 400 bank accounts for women; (3) improved people's skills through the continued implementation of an ambitious financial education and financial literacy training program which trained 14 237 participants. The total number of participants trained is 94 578 including 71 739 women and 22 839 men; and (4) with the project’s support DFSs continued to roll out digital financial services. As a result by the end of activities on January 31 2023 426 942 users including 286 560 women had benefited from the digital solutions put in place by the project including the mobile tontine digital service: the most popular service among women.
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:
Department-Initiated