African, Caribbean, and Pacific–European Union Microfinance Programme
It is easy for people with access to financial services to make safe and sensible decisions on loans, savings, money transfers, and insurance. But in the African, Caribbean and Pacific (ACP) Group of States, 71 percent of adults lack access to a bank. This program is helping to grow the microfinance sector—basic financial services for the poor—across the ACP Group of States that encompasses 740 million people in 79 countries.
Globally, the program supports efficiency and transparency in local markets, and training of microfinance policy makers and practitioners. Regionally, our partners manage microfinance and small business investment funds. Locally, the program provides grants to institutions that support financial services to those excluded from mainstream access to proper financial services.
The DAI-led consortium helps coordinate and implement this work.
- Communicate strategically, build and maintain the management information system, and organize steering committees, regular reporting, and knowledge creation and dissemination.
- Facilitate events with microfinance institutions and practitioners, organizing visibility and peer learning activities.
- Prepare and publicize the call for grant proposals, organize the evaluation committee, monitor grant implementation, and organize communication and knowledge-sharing activities for grantees.
- Maintain official relations with the European Commission and the ACP Secretariat and ensure the administrative backstopping of the program.
- Committed €7.5 million to 12 winning grant applicants and are assisting them as they strive to increase and improve microfinance in 27 African countries.
- With the Inter-American Development Bank multilateral investment fund, co-funding and coordinating the Caribbean Microfinance Institutions Capacity Building Programme that assists microfinance institutions in the Caribbean and develops a strong regional network.
- With the United Nations Capital Development Fund, co-funding and coordinating activities with the Pacific Financial Inclusion Programme and its goal to provide 500,000 people with access to new or improved appropriate financial services.
- With the International Labour Organization’s International Training Centre, co-funded the Microfinance Training of Trainers program and provision of scholarships for the Boulder Microfinance Training.
- For the World Bank Consultative Group to Assist the Poor (CGAP), provided the European Commission share of funding to the prime microfinance resource center.
- With KfW, co-funding the technical assistance fund of RETGMIFA, which supports financing institutions that serve small businesses.
Client: European Union and the ACP Group of States