USAID Implementation Grant Program (IGP) Summaries ... - Microlinks

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Mozambique Grantee ACCION Local Partner Tchuma Cooperativa e Credito e Poupancas Amount $1,077,275 Dates 09/1999-12/2004 ACCION International is strengthening and expanding Tchuma Cooperativa de Credito de Poupancas, a credit cooperative which has served low-income microentrepreneurs since 1999. Grant funding is being used to improve Tchuma’s operations and financial performance, to partially fund operating costs. Tchuma plans to boost outreach from roughly 6,000 to13,000 active borrowers and reach 87% financial self-sufficiency by December 2004. The organization also seeks to expand the number of savers from 1,500 to 7,000, strengthen existing products and introduce new services. Grantee Frontier Finance International Local Partner Novo Banco Amount $1,000,000 Dates 09/2000-09/2004 Frontier Finance International, a U.S. subsidiary of IPC in Germany, used the IGP grant to finance the creation of a new, commercial microfinance bank in Mozambique. The local Banco Internacional de Mozambique, the principal shareholder of the new bank, was joined by three other investing partners. With a vision of full-service operations for low-income entrepreneurs and households, the bank expects to break even in the third year of operations, and to reach over 9,500 micro-credit clients and over 4,000 small business and housing loan clients by the end of five years. Nigeria Grantee Grameen Foundation Local Partner Lift Above Poverty Organization (LAPO) Amount $1,300,000 Dates 09/2002-09/2005 MD has provided a $1.3 million IGP grant to the Grameen Foundation to strengthen and expand its Nigerian affiliate, Lift Above Poverty Organization (LAPO) and to facilitate its transformation into a private entity. LAPO plans to open new branches in order to expand its client base threefold and expects to serve over 53,000 clients by December 2005. Senegal Grantee Plan International Local Partner Plan International Senegal USAID Implementation Grant Program (IGP) Summaries 14
Amount $739,601 Dates 09/2000-12/2003 With technical support from the local credit union PAMECAS and a $700,000 IGP grant from MD, Plan International, a private voluntary organization based in the United Kingdom, took the capital from a number of small, stagnant revolving loan funds and regrouped them into four credit unions. The new institutions serve four villages formerly without access to formal financial markets. South Africa Grantee Ebony Consulting Local Partner Teba Bank Amount $398,488 Dates 09/2002-09/2005 Under a $398,488 IGP grant from MD, Ebony Consulting is helping Teba Bank develop new financial products and services in response to the changing needs of its clients in the mining industry. To reinvigorate drooping demand for its services in recent years, Teba Bank now offers a broader array of financial services, including housing loans and flexible savings and credit vehicles, designed to address the particular needs and preferences of microentrepreneurs. Grantee MicroRate Local Partner MicroRate Africa Amount $753,315 Dates 09/2001-09/2004 The objective of this grant was to support MicroRate in the creation of an MFI evaluation company based in Johannesburg, South Africa. IGP funds were used to cover start-up expenses of a regional rating agency in Africa. The purpose of the new agency, Microrate Africa, is to develop the capacity to carry out evaluations and ratings of promising African MFIs, using African staff. Grantee FINCA Local Partner FINCA South Africa Amount $1,032,951 Dates 09/1999-12/2001 This grant supported FINCA International’s establishment of a new village banking program in South Africa. FINCA’s objective was to create a sustainable financial institution that offers services to microentrepreneurs in South Africa, who are primarily poor women. The target of the program was to reach 7,490 very low-income individuals within the grant period and to set the stage for a self-sustaining MFI within five years. FINCA committed to achieving 51% operational self-sufficiency by the end of the grant USAID Implementation Grant Program (IGP) Summaries 15
Page 1 and 2: microREPORT #4 USAID Implementation
Page 3 and 4: Implementation Grant Program (IGP)
Page 5 and 6: Nicaragua .........................
Page 7 and 8: Republic. About 75% of the proposed
Page 9 and 10: later transferred to ACCION. PADME
Page 11 and 12: and broaden its resource base. Keny
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Page 17 and 18: smallholders administered through a
Page 19 and 20: that aims to provide credit and sav
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Page 25 and 26: to upgrade the capacity of local in
Page 27 and 28: Grantee Katalysis Local Partner Org
Page 29 and 30: With a $1,300,000 IGP grant from MD
Page 31: V. CROSS-REGIONAL Grantee FINCA USA

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