Desjardins International Development (DID) projects
We work with partners in developing and emerging countries to provide disadvantaged populations access to financial services that fit their needs. In this way, we promote financial inclusion around the world.
DID projects in Africa
Support for Developing, Professionalizing and Revitalizing Microfinance (ADAPAMI) Benin
This project aims to improve the economic situation of vulnerable populations of Benin, particularly women and youth.
Start date
January 2017
End date
January 2023
Funding partner
Global Affairs Canada
Impact
10 microfinance institutions supported
Project description
The team supports the state in supervising and modernizing the microfinance sector, which counts 2.2 million members (50% women). It also aims to promote the financial inclusion of approximately 500,000 people, especially people living in rural areas, women and young adults.
We can rightfully take our place alongside men in the workplace. We can lead an all-male or mixed team. The training reassured us and gave us this confidence.
Results as of December 31, 2021
- 605,785 people—58% of whom are women—became clients at one of the project's 10 partner institutions following the financial inclusion strategy implemented
- 216,995 people—71% of whom are women—now use the digital services offered by the institutions supported
- 58,351 people from vulnerable populations received financial education training
- After receiving our support, 78 women were elected to boards of directors of project partner institutions: a 63% increase in 4 years
- The entrepreneur financial centre in Parakou helps better serve communities in the northern and central regions of Benin
Supporting the Development of Agricultural Value Chains (AVCs) and Entrepreneurship through the Pineapple Sector Entrepreneurship Development Program (DEFIA) Benin
Start date
April 2020
End date
April 2023
Funding partner
Enabel, Belgian development agency
Project budget
CAN$2 million
Project description
This project aims to support agricultural entrepreneurship by strengthening the financial services offered by inclusive finance institutions to pineapple processors and crop producers in the sector. The first step is to help set up an entrepreneur financial centre (EFC) to serve commercial and agricultural clients.
Then we will participate in the development of specialized financial services, including mobile savings with online tools, and train staff at relevant institutions. Finally, we will create a strategy to promote the services to agriculture and agri-food entrepreneurs.
Results as of December 31, 2021
- 6 inclusive finance institutions were onboarded
- The commercial and agricultural EFC was opened
- 3 tailored credit products were created
- A new mobile solution for savings collection was rolled out and is currently used by 53,667 people
Establishing 2 Data Centres Ivory Coast and Niger
Start date
March 2021
End date
June 2024
Funding partner
African Development Bank
Project budget
CAN$1,488,560
Project description
This project aims to establish 2 data centres to encourage the use of electronic payment methods and increase the financial inclusion of populations.
It involves working with Senegal's data centre to establish similar centres based on its model, but in Niger and Ivory Coast. This will happen in 2 phases: The first is to complete studies and preliminary analyses; the second, to launch 2 centres in Niger and Ivory Coast. The centres will provide IT services and advice, enabling institutions to automate their operations and provide their clients with new electronic and mobile services.
Objectives
- Provide affordable IT services and technical advice to inclusive financial institutions
- Improve quality of financial information
- For the financial institutions involved:
- Improve performance
- Streamline operations
- Increase transparency, reliability and security of transactions
- Offer new payment methods and services to clients
Agricultural and Rural Financing in Mali (FARM) Mali
Start date
September 2014
End date
June 2021
Funding partner
Global Affairs Canada
Impact
6 financial institutions supported
Project description
The goal of the FARM project was to set up an agricultural and agri-food financing system to provide a structure for the existing financial services offering for farmers. A range of secure financial services improves access to agricultural credit and stimulates entrepreneurship and job growth in the agri-food sector.
FARM's financial literacy training has helped me understand that one of the ways farmers can avoid financial stress is to diversify income sources. So I adopted market gardening in addition to my existing corn production operation. The income from this side business helps me pay my bills and even save a little. I can now help my husband with family and farming business expenses.
Results as of June 30, 2021 (end of project)
- Nearly 27,000 agricultural loans were granted, 52% to women, totalling over CAN$11 million
- 5,034 jobs were created as a result of the loans received
- 3 new credit products tailored to women were developed
- Employees of 6 financial institutions received skills development training
- More than 2,000 women participated in training and awareness activities
- Financial protection mechanisms were improved for farmers and financial institutions:
- 3 crop insurance products (rice, corn and onions) are now offered
- A loan guarantee fund was deployed for participating institutions
- An environmental and social risk management system was set up at various institutions
Integrated Nutrition Project for the Kolda and Kedougou Regions (PINKK) Senegal
Start date
September 2015
End date
February 2020
Funding partner
Global Affairs Canada
Implementing partners
Nutrition International
World Vision Senegal
Cellule de lutte contre la malnutrition (CLM)
Project description
Now completed, this project addressed the problems of malnutrition and food insecurity in the regions of Kolda and Kedougou, which have some of Senegal's highest malnutrition rates. Its goal was to improve nutritional security primarily for women and young children in these regions.
The DID-Senegal team's role was to support women entrepreneurs involved in the production and processing of micronutrient-rich foods by improving their access to financial services, financial literacy and entrepreneur support services.
Results as of March 31, 2020 (end of project)
- 7,765 women beneficiaries received a total of 8,640 hours of training
- 1,074 women who were granted credit received support services
- 1,172 women beneficiaries were granted 1,758 credit products
- CAN$265,104 was granted in credit products, with no defaults
Youth Employment Skills Training Program (STEP) Senegal
Start date
July 2017
End date
October 2020
Funding partner
World Vision Canada
Implementing partner
Enablis
Project description
Now completed, the STEP project aimed to improve the employability of young people aged 15 to 24 in Senegal's Kolda region by helping them acquire new skills. Our role was to make financial literacy part of the youth curriculum and connect young people with microfinance institutions (MFIs) so they could get financing to start their own businesses.
We also helped partner MFIs develop savings and credit products specifically for young entrepreneurs and trained MFI credit agents on how to process loan applications submitted by young people.
Results as of October 31, 2020 (end of project)
- 11 vocational schools added financial literacy programs
- 79 teachers were trained to teach financial literacy
- 14 community savings groups were set up for students and out-of-school youths
- 344 young people joined these groups and saved a total of CAN$9,500
- 85% of businesses started by young beneficiaries were self-funded
- 416 young people were put in contact with a partner MFI
Financing MSMEs Through Capital Investment Tunisia
Investment date
December 2014
Supported institution
Entrepreneur Financial Centre Tunisia
Total capital investment
CAN$2.5 million
Project description
Entrepreneur Financial Centre (EFC) Tunisia is a microfinance institution that provides financing to micro, small and medium-sized enterprises (MSMEs) in and around Tunisia's urban areas. We created the centre in 2015 and acted as promoter, investor and operator until December 2019 when we handed over the reins to a local team, marking our fifth and last successful EFC transfer.
EFC Tunisia has a process in place for assessing the social and environmental risk of the projects it finances, as well as an entrepreneur support program. In 2019, the centre also developed an official gender equality approach. It has 13 locations and more than 6,700 clients.
Financing MSMEs Through Capital Investment Uganda
Investment date
January 2012
Supported institution
Entrepreneurs Financial Centre Uganda
Total capital investment
CAN$2.2 million
Project description
Entrepreneurs Financial Centre (EFC) Uganda is a microfinance institution that has been helping increase access to funding for micro, small and medium-sized enterprises (MSMEs) in and around urban centres in Uganda. We established the centre in 2012 and acted as promoter, investor and operator until 2018 when we handed over operations to a local management team. EFC Uganda serves 8,600 entrepreneurs, 35% of whom are women. It has 131 employees, 44% of whom are women.
Financing MSMEs Through Capital Investment Zambia
Investment date
January 2008
Supported institution
Entrepreneurs Financial Centre Zambia
Total capital investment
CAN$2.4 million
Project description
Formerly Pulse Financial Services , Limited Entrepreneurs Financial Centre (EFC) Zambia is a microfinance institution established in 2009. Our investment helps them provide financing for micro, small and medium-sized enterprises (MSMEs) in urban and rural areas of Zambia. We acted as EFC Zambia's promoter, investor and operator for 7 years until 2016, when the institution began operating autonomously under new local management. The institution serves nearly 213,000 companies, 43% of which are led by women, and employs 200 people, more than 54% of whom are women.
DID projects in the Americas
Bolstering the Economic and Social Power of Women and Young People in Rural Areas (PROFEM) Colombia
With this project, we support the financial inclusion and capacity-building of women and young people living in rural areas in order to help them reach their full potential.
Start date
March 2020
End date
March 2024
Funding partner
Global Affairs Canada
Project budget
CAN$4,897,236
Project description
This initiative is focused on giving rural women and young people the opportunity to establish a credit history, gain financial literacy and build confidence so they can complete their personal and business projects.
Through this project we receive training on financial issues. I have found it excellent because the information is very diverse, very easy to understand. They also teach you that you are not alone, that there are more people out there who can support you when you need it. The program enables us to strengthen our capacities, taking advantage of the skills we each have.
Results as of December 31, 2021
- Creation and rollout of 3 financial literacy programs:
- Mis Finanzas Cuentan
- Cuentas Sin Cuento
- Eficacao
- 10,000 women and young people in rural areas completed training
Solidarity-Based Finance Program Canada
Start date
March 2017
End date
Extended until further notice
Funding partner
Desjardins Group
Implementing partner
Participating budget advisory and entrepreneurship support organizations
Project description
As part of this project, we help Desjardins caisses coordinate, deploy, monitor and promote solidarity-based finance programs.
The caisses offer 3 solidarity-based finance products to promote financial inclusion:
- The Desjardins Mutual Assistance Fund for people experiencing financial difficulty
- The Desjardins Microcredit to Businesses program for entrepreneurs and self-employed workers who don't qualify for traditional financing
- Créavenir for entrepreneurs aged 18 to 35
These programs help organizations that support people who are financially vulnerable and entrepreneurs without access to the financial system.
Support is offered in the form of coaching and financial education through community organizations and, in many cases, a loan with generous terms.
2021 results
- For the Desjardins Mutual Assistance Fund:
- 10,055 people received personalized budgeting advice
- 432 emergency loans were granted with an average amount of CAN$724
- For the Desjardins Microcredit to Businesses program:
- 840 entrepreneurs received support
- 163 business projects were funded
- 1,155 jobs were created or maintained
- For Créavenir:
- 187 business projects were funded
- 351 jobs were created or maintained
- The average loan amount was CAN$13,049
Financing MSMEs Through Capital Investment Colombia
Start date
July 2019
Supported institution
Crezcamos S.A.
Total capital investment
CAN$3.2 million
Project description
Crezcamos is a Colombian microfinance institution that was established in 2008. It provides financial services for micro, small and medium-sized enterprise (MSME) owners and their families, mainly in rural areas. It offers savings and credit solutions for the farming, commerce, services, production and housing sectors, as well as solutions to help clients plan for the future, including insurance products. It has about 1,700 employees and more than 97,500 clients.
Graduar PYMES Project Columbia
Start date
July 2019
End date
September 2022
Funding partners
Global Affairs Canada
Banca de las Oportunidades
Impact
5 financial institutions supported
Project description
The Graduar PYMES project provides support to 5 Colombian financial institutions to help them develop a service offering tailored to the needs of micro, small and medium-sized enterprises (MSMEs).
At the end of 2020, I applied for loans from different institutions to be able to incorporate my business. Fortunately, one of the Graduar PYMES partner institutions had everything I needed, along with incredibly helpful staff. I was able to develop and register my brand identity, purchase packaging in bulk at lower prices and, most importantly, get access to exclusive product formulations from a lab that meets all quality standards.
Results as of December 31, 2021
- Funding was provided to 1,541 companies, 33% of which are led by women
- A total of 8,974 jobs were created or maintained
Debt Investment to Help Increase Access to Credit and Financial Literacy and Health Services for Women Entrepreneurs Ecuador
Investment date
May 2012
Supported institution
Fundación ESPOIR
Total debt investment
CAN$1.5 million
Project description
Fundación para el desarollo integral ESPOIR is a foundation based in Quito, Ecuador. Our investment helps them achieve their mission of contributing to the country's economic and social development and improving the health of women micro-entrepreneurs. ESPOIR provides credit products and health and financial literacy services to nearly 550,000 clients, 68% of whom are women.
Climate Adaptation and Economic Development of Agricultural Sectors (AVETI) Haiti
Start date
March 2019
End date
February 2024
Funding partner
Global Affairs Canada
Implementing partners
International Agricultural Alliance member organizations:
Centre for International Studies and Cooperation (CECI)
SOCODEVI
Union des producteurs agricoles – Développement international (UPA-DI)
Project description
The Climate Adaptation and Economic Development of Agricultural Sectors (AVETI) project aims to sustainably increase the value of cacao, yam and other crops mainly overseen by women to ensure their financial empowerment and food security for their families. The project also aims to develop innovative practices so crops are less impacted by climate change.
Our role is to increase access to financing—an integral component of sustainable development—for people involved in the agricultural sectors targeted by the project. We advise and support financial institutions in implementing financial services, particularly for women and young people.
Through the project, I received agricultural training and became a member of a village savings and credit association, which helped me save money and obtain credit. The loan I received has allowed me to build up my small business, become self-sufficient and take care of my children.
Objectives
- Increase the market value of cacao, yams and other related crops
- Adopt innovative agricultural practices for greater resiliency in the face of climate change
- Increase issuance of loans tailored to farmers
- Improve living conditions overall for the department of Grand'Anse's rural populations
Financing MSMEs Through Capital Investment Nicaragua
Investment date
April 2019
Supported institution
Fundeser
Total capital investment
CAN$1.2 million
Project description
Financiera Fundeser is an inclusive finance institution based in Managua, Nicaragua. The institution's client commitment is reflected in its high-quality services and proximity to the people it serves. It offers financial services to help increase the revenue of rural micro, small and medium-sized enterprises (MSMEs), the pillars of Nicaragua's economic development.
Across its network of 22 locations in rural and urban areas, Fundeser serves more than 16,575 clients, 50% of whom are women. It offers individual and group loans mainly in agricultural industries, particularly coffee.
Financing MSMEs Through Capital Investment Panama
Investment date
December 2009
Supported institution
Centro Financiero Empresarial
Total capital investment
CAN$2.7 million
Project description
Centro Financiero Empresarial is a microfinance institution dedicated to financing micro, small and medium-sized enterprises (MSMEs) in and around urban centres in Panama. We established the centre in 2009 and handed over the operations to a local team in 2018. The centre serves nearly 4,500 businesses and has about 190 employees, more than 53% of whom are women.
Increasing Access to Financial Services Through Debt Investment Peru
Investment date
December 2018
Supported institution
Abaco
Total debt investment
CAN$2 million
Project description
Abaco is a savings and credit cooperative in Lima, Peru, whose goal is to help improve its members' quality of life by offering them basic financial products and services designed for their needs, while also contributing to sustainable development.
Founded in 1981, the institution has about 120 employees and more than 14,000 clients, 30% of whom are women.
DID projects in Asia
Establishment of an Entrepreneur Financial Centre in Sri Lanka (EFECS) Sri Lanka
The financial centre was created to strengthen the SANASA network (Sri Lanka's largest cooperative network) and help provide professional services to entrepreneurs in 4 of Sri Lanka's 9 provinces.
Start date
June 2016
End date
June 2021
Funding partner
Global Affairs Canada
Implementing partner
SANASA
Project description
The centre reinforced the capacities of thousands of micro-entrepreneurs through non-financial services provided by various local structures in the SANASA network. It also supported or helped create hundreds of micro, small and medium-sized enterprises, many of which are managed by women. The project created hundreds of new jobs.
Ultimately, the project aimed to help entrepreneurs, primarily women, sustainably manage their finances and their activities and to promote awareness among authorities of how important financial cooperatives are.
The innovation training program changed my life! I enlarged my clothing store from a small room to a full-sized store; I tiled the floors and installed air conditioning, security cameras and a big outdoor sign to attract more customers. And I'm in the midst of building another floor to expand the business!
Results as of June 30, 2021 (end of project)
- Loans granted to 17,012 MSMEs, of which 10,417 are led by women
- Business management training for 8,053 entrepreneurs, including 5,641 women
- Introduction of 3 new credit products adapted for value chain financing
- Launch of 2 insurance products designed for the risk management of agricultural production supported by the project
- Distribution of 12 training modules on topics such as change management, self-esteem and bookkeeping
- Training for 1,978 SANASA network employees so they can provide technical assistance for gender-specific products and services
Increasing Access to Credit Through Capital Investment Tajikistan
Investment date
November 2014
Supported institution
Humo
Total capital investment
CAN$800,000
Project description
Humo is a socially responsible, community-based organization that was launched in June 2008 as part of a microcredit program aimed at bringing affordable financial services to vulnerable, low-income populations in Tajikistan.
Humo takes part in various projects to promote climate resilience and sustainable agriculture with partners such as the Asian Development Bank, the World Bank and the European Bank for Reconstruction and Development. The organization is known for helping promote private sector investment in Tajikistan and supporting gender equality and climate resilience.
It's the third-largest microfinance institution in Tajikistan and provides loans to more than 64,450 clients, 41% of whom are women.
Strengthening the People's Credit Funds (PCF) Network
Start date
March 2016
End date
March 2024
Funding partner
Global Affairs Canada
Impact
2 million people supported across the PCF network
Project description
This project aims to improve the integration and performance of the Cooperative Bank of Vietnam (Co-opBank) and its People's Credit Funds (PCF) network to offer a range of financial products and services to a rural client base.
My family took out a loan at the PCF to start a fruit, livestock and aquaculture farm. After a few years, our farm began to generate regular income and our quality of life improved. I see the PCF as an effective source of funding for rural families to help stimulate the local economy.