Incofin successfully finalizes the RIF II Technical Assistance (TA) Facility, promoting innovation in financial inclusion for 7.4 million entrepreneurs world wide. The TA Facility financed over 8 years capacity building projects to promote innovation in rural microfinance and more financial inclusoin of traditionally underserved communities.
The USD 5 million Facility had broad-ranging impacts, both geographically and in terms of thematic areas. The Facility financed 54 projects in 24 countries in Africa, Asia, Latin America and Eastern Europe on a diverse array of topics ranging from new product development and digital delivery channels to risk and social performance management. In Bolivia for example, Incofin supported Sembrar Sartawi to develop a customized mobile app that streamlines client data collection, allowing the company to reach remote rural communities more efficiently.
Under the Facility, projects were designed to help partner institutions address and overcome challenges typically associated with financing the rural and agricultural sectors, such as high operating costs that can limit scalability. Additionally, the Facility organized 3 knowledge-sharing events that brought together financial inclusion players from around the globe to exchange best practices in agricultural lending, risk management and insurance.
In an intense collaboration between a host of international donors, each committed to promoting rural financial inclusion, the Facility was supported by Agence Française de Développement (AFD), the Belgian Investment Company for Developing Countries (BIO), the European Investment Bank (EIB), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), the Inter-American Development Bank (IDB), the Luxembourg Government, Nordic Microfinance Initiative (NMI) and the RIFII Fund.
Karel Jansen, Chair of the RIF II Technical Assistance Committee: “At its launch, the RIF II TA Facility was unique to the microfinance industry and, over 8 years, financed a great variety of projects in many countries east to west. The Facility’s excellent results demonstrate TA’s capacity to generate concrete impact for partner institutions and their end-clients.”
Full press release: