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Improving financial inclusion for women with BRAC International Microfinance
Project
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Signature date
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Location
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Multi-country Global, Burma, Liberia, Uganda, Rwanda, Sierra Leone, Tanzania
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Financing tool
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Financing amount (Euro)
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23701175
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Financing details
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USD 25m loan
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Customer
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BRAC Rwanda Microfinance Company PLC / BRAC Uganda Finance Limited / BRAC Tanzanie Finance Limited / BRAC Myanmar Microfinance Company Limited / BRAC Microfinance (SL) Limited / BRAC Libéria Microfinance Company Limited
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Type of customer
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Microfinance
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Country of headquarters
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Rwanda
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Project number
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PZZ1556
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has participated in the launch of the debt capital markets program in order to finance BRAC’s microfinance operations in six priority countries for Proparco.
Client presentation
BRAC International Microfinance is the international branch of one of the largest development organizations in the world, BRAC, which was founded in Bangladesh in 1972. BRAC International Microfinance today operates in six countries outside Bangladesh: Liberia, Myanmar, Rwanda, Sierra Leone, Tanzania and Uganda. Together, these six entities, which are operated by BRAC International Holdings B.V., serve some 700,000 clients, 97% are women. The mission of BRAC International Microfinance is to provide a range of financial services responsibly to people at the bottom of the pyramid. It specifically focuses on women living in poverty in remote rural areas in order to create self-employment opportunities, increase financial resilience and promote the entrepreneurial spirit of women by economically empowering them.
Project description
Proparco has participated in the launch of the debt capital markets program which will finance BRAC’s microfinance operations for the next ten years. This innovative structuring aims to develop sustainable financial inclusion, particularly for women, in priority countries for Proparco.
Project impact
The project should achieve the following impacts:
- Access to microcredit for 133,000 microentrepreneurs
- Support for some 1,500 direct jobs and some 83,000 indirect jobs
- A reduction in gender inequality and greater financial inclusion for women, who account for 97% of the clients of BRAC’s subsidiaries. In this respect, the operation qualifies for the 2X Challenge initiative for the reduction of gender inequality.
The project will contribute to SDGs 1 (“No poverty”), 5 (“Gender equality”) and 8 (“Decent work and economic growth”).