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2010

Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT) (Kenya)

Kenya

Titre : Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT) (Kenya)

Pays : Kenya

Approval date : 16/09/2010

Organisme d’exécution : Microfinance Unit (Ministry of Finance, Economic Affairs Department)

Durée : 2010 - 2016

Initiating institution : International Fund for Agricultural Development (IFAD)

Finalité et objectifs
The programme provides a unique opportunity to contribute to the rural finance policy process and thereby to the reform of financial sector policy in Kenya. It will encourage the development of a range of innovative financial products, such as savings and remittance services, community infrastructure loans, value chain financing, medium-term financing for the agriculture sector, microventure capital modalities, index-based insurance, health insurance, and the cutting edge biometric point of sale devices as applied by Jamil Bora (a registered non-profit trust in Kenya).
PROFIT will be implemented throughout Kenya’s rural areas, in particular in arid and semi-arid lands and areas with agricultural potential and a high incidence of poverty.
The programme will reach out to smallholder farmers, pastoralists, artisanal fishers, women, landless labourers and young people.
The programme’s development objective is to increase incomes of the target group by improving production and productivity of rural smallholder farm and off-farm sectors. In achieving its objectives, the programme will :
Improve access of poor rural households to a broad range of cost-effective financial services ; Spear head systemic changes in the financial sector to allow for a sustainable flow of funds to agricultural and rural areas ; and
Assist programme beneficiaries to effectively manage their assets, markets their produce and increase employment opportunities.

Informations financières
Approved IFAD loan : US$29.3 million
Approved IFAD grant : US$600,000
Cofinancing : Alliance for a Green Revolution in Africa (US$2.8 million)
Contribution of borrower : US$0.56 million
Total programme cost : US$83.2 million

Présentation : IFAD

President’s report : proposed loan and grant to the Republic of Kenya for the Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT)

Page publiée le 16 février 2011, mise à jour le 1er juillet 2019