Agricultural and Rural Financing in Mali (FARM)

Start date: September 2014

End date: March 2020

Funding partner: Global Affairs Canada

Implementing partner: SOCODEVI

Project description

The goal of this project is to set up an agricultural and agri-food financing system that provides a comprehensive structure for an existing financial service offering for farmers. Creating a range of secure financial services will improve access to agricultural credit and entrepreneurship and stimulate job growth in the agri-food sector.

Results as of March 31, 2020

  • More women farmers are supported by financial institutions: 20,143 farm loans were granted, 57.5% to women.
  • Jobs were created: 4,825 jobs were created as a result of these loans.
  • A credit product offering was created for women: 3 credit products were developed specifically for women.
  • Financial institutions are better equipped to serve farmers: Financial offerings were enhanced at 6 financial institutions as a result of employee development.
  • Farmers have better access to financial protection mechanisms: More than 2,900 farmers are insured thanks to 3 crop insurance products (rice, corn and onions).
  • More women are trained on financial education: 1,500 women participated in training and awareness activities, including leadership and public speaking training.
  • Better risk management: Implementation of an environmental and social risk management system within financial institutions.