International Development written question – answered at on 15 March 2006.
To ask the Secretary of State for International Development what process microfinance organisations must complete in order to be eligible for support from his Department.
DFID provides support to financial sector development, primarily through its country-based aid programmes.
DFID works in partnership with Governments, civil society and with the private sector to implement countries' growth and poverty reduction strategies. DFID agrees Country Assistance Plans (CAPs) that set out in detail country-level programmes, based on our partners' priorities.
Microfinance is widely recognised as useful in contributing to reducing poverty and reaching the Millennium Development Goals (MGDs). Where support is being given to microfinance organisations, DFID may set up umbrella programmes" for the financial sector, usually in partnership with other donors and international financial institutions. DFID has supported such microfinance and financial sector programmes in 25 countries.
Microfinance organisations can access DFID support if their request for funding meets the requirements of these programmes.
At a central or regional level, DFID is supporting programmes such as, the Consultative Group to Assist the Poor (CGAP), a consortium of 33 public and private development agencies working together to expand access to financial services, including microfinance services. Another example is MicroSave, which promotes the development of savings and other more client-responsive financial services among microfinance institutions.
For further details, microfinance organisations should approach the local DFID office. Contact details are on DFID internet site on www.dfid.gov.uk
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