Background: For more than 60 years, various agencies of the Aga Khan Development Network (AKDN) have offered microfinance products and services through integrated development programmes and as self-standing microfinance institutions.
These institutions, which are now administered by AKAM, ...
Leer másBackground: For more than 60 years, various agencies of the Aga Khan Development Network (AKDN) have offered microfinance products and services through integrated development programmes and as self-standing microfinance institutions.
These institutions, which are now administered by AKAM, contribute to poverty alleviation, economic growth and social cohesion in 12 countries in the developing world. The microfinance programmes, microfinance institutions (MFIs) and regulated microfinance banks have delivered over USD 200 million in loans since their inception.
AKDN launched its microfinance programme in Syria in 2003 as the Syria Microcredit Facility (MCF).
Since inception, MCF has disbursed a total amount of ca. USD 45 million to over 35,000 borrowers, of which 26% are female borrowers, making MCF the largest private microfinance provider in the country.
Challenges: The Programme’s challenges are:
1) Formalizing the institutional set-up of the Programme;
2) Achieving a full national coverage by the end of 2010; and
3) Developing local human resources.
Ocultar