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Cameroon: UNDP to provide financial support to three Micro Finance Institutions

UNDP resident coordinator Allegra Baiocchi and MINEPAT exchanging files (c)

The United Nations Development Programme (UNDP), is awarding grants worth over 200 million CFA to three Micro Finance Institutions (MFI) to scale up their capacity to provide financial products and services adapted to the needs of young people, women and rural populations in the project intervention areas of Far North, North, Adamawa and East regions of Cameroon.

This initiative will also improve the quality and availability of appropriate financial services and performance of MFIs. To this effect, a ceremony for the signature of the MOU between UNDP and the MFIs will take place on 18 September 2019 at the Hilton Hotel in Yaounde as from 10am.

The ceremony will be led by the Resident Representative of UNDP Cameroon, Jean-Luc Stalon and attended by the Minister of Finance, Louis Paul Motaze.

According to the Resident Representative of UNDP Cameroon, Mr. Jean Luc Stalon, the final objective of this Support Project for Economic Resilience is to see young people, women and populations at-risk have increased and equitable access to employment opportunities and are more economically resilient by end of 2020.

The financial allocation which is fully funded by UNDP Core funds will run for two years and will involve the following MFIs: Crédit du Sahel based in Maroua, Microfinance de Développement based in Garoua and Savana Islamic Finance located in Ngaoundéré.

Published on 28.04.2020

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