Rural Finance Project gives over D2M support to partners
Wednesday, April 11, 2012
The Rural Finance Project (RFP), an International Fund for Agriculture Development (IFAD) sponsored initiative last Friday donated materials worth D2, 838, 637 to its implementing partners during a presentation ceremony held at its office along the Old Cape Point Road in Bakau.
The materials that included motorbikes and management information systems equipment were handed over to partners such as the VISACA Apex, NACCUG (National Cooperative Credit Union of the Gambia), and the Gambia Women Finance Association (GAWFA).
Speaking at the ceremony, the permanent secretary No.2 at the Ministry of Agriculture, Ada Gaye underscored that the move is part of the RFP’s objectives of strengthening micro-finance institutions to create an enabling micro-finance industry.
She said the move was in response to the lack of transparency and reliable information within the framework of RFP. She underscored that the provision of information facilities to collect firsthand data and establish a network of focal points will offer easy access to updated and reliable information that will encourage and promote a new collaborative sharing of information for consultation and planned activities of RFP.
The Agriculture PS went on to explain that the motorbikes will address the loan recovery issues that rendered the operations of most micro-finance institutions particularly VISACA less desired even to the [extent] of closure of some of them due to distance and limited fellow-ups on clients owing the MFIs.
PS Gaye pointed out that the management information system is to provide real time information on MFIs operations and performance indicators, adding that the equipment will not only provide timely information for evidence-based decision making, but also improve the quality of work.
Speaking on behalf of the beneficiaries, the chief executive officer of GAWFA, Dr Oley Njie-Mbye thanked RFP for the support they have been providing to its implementing partners.EndFragment
Author: by Momodou Faal