Project detail - DEVELOPPEMENT INTERNAT. DESJARDINS

DEVELOPPEMENT INTERNAT. DESJARDINS

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Who is our client

Founded in 1970, Developpement international Desjardins (DID) is a not-for-profit subsidiary of the Desjardins Group, the largest integrated financial cooperative and the sixth largest banking institution in Canada. DID's mission is to "empower the disadvantaged in developing countries and countries in transition by supporting community owned and operated financial institutions which can have an impact on poverty reduction". This Capacity Development (CD) project is for the benefit of EFC Uganda.

Funding objective

The aim of the project is to support the set up of a microfinance institution (MFI) in Uganda dedicated to small and micro entrepreneurs - EFC Uganda. The model developed by DID is known as a Entrepreneurial Finance Centres (EFC, or CFE in French).

Why we fund this project

The EFCs aim to increase access to financial services for small-scale Ugandan entrepreneurs and to encourage development of local wealth is in line with FMO’s ambition to become the world’s leading impact investor by 2020 by supporting the development of an impact investing ecosystem in Africa.

Region
Africa
Country
Uganda
Sector
Financial Institutions
Signing date
11/9/2015
Total FMO financing
EUR 0.10 MLN
Fund
MASSIF
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)