LIFT’s Financial Inclusion Programme 2015 – 2018
Budget: Estimated USD 80 million
Download the programme one pager here.
Financial Inclusion has become LIFT's largest programme.
Vision and approach
LIFT ‘s Financial Inclusion programme works across its Delta, Dry Zone, Uplands and Rakhine programmes, presenting new opportunities to rural poor people. LIFT promotes a dynamic, inclusive rural economy by:
• introducing a variety of sustainable, demand driven financial services to people in the agriculture sector
• providing access to low interest credit for off-farm business development
• leveraging the amount of money available to rural borrowers
• extending the reach of services to ensure that the poorest and remote communities are included
• providing capacity development to microfinance clients, institutions, regulators, investors and private banks
Nearly USD 80 million has been allocated to 15 innovative projects. LIFT’s investment will be leveraged to an estimated sum of USD 250 million. It is expected that 1.5 million new clients will gain access to financial products by 2018.
Expected outcomes
• An increase in mechanisation, agricultural production, small/medium sized businesses, with more off-farm employment and opportunities
• LIFT partners will be supported to develop into institutional and financially self-sufficient microfinance institutions
• Crucially, LIFT is covering the cost of expanding the market to bring in new foreign investors, providing more people with the chance to access responsible financial services
Innovative services:
• Loans for migrants – Proximity Designs
• Debt Consolidation – Vision Fund
• Refinancing for those affected by natural disasters – Proximity Designs, PGMF, Vision Fund
• Promoting saving-led financial services – UNCDF Microlead, CCA
• Institutional capacity building for microfinance organisations and institutions – IFC, PGMF (MARC), GRET
• The Partial Risk Guarantee Fund and term financing loans especially for Hire Purchase - YOMA Bank
• Hedging Facility of Currency Exchange Risk for LIFT Financial Inclusion Partners and Other MFIs – TCX Fund, CordAid
