MFI Report

CARE has been working in Afghanistan since 1961, and since July 2001 has reached more than 4.3 million people (44 percent female, 56 percent male) through a combination of emergency relief and development programs. Originally working in seven provinces in eastern Afghanistan, CARE has expanded its reach to 20 provinces nationwide since September 2001. CARE’s micro-finance experience in Afghanistan has focused on three principal areas: • Organization of savings and credit groups among vulnerable women and widows • Organization of rural women’s savings groups as well as community-based revolving alms funds for the most vulnerable households in two rural provinces, as part of a Rural Assistance Program. • Financing and training to a national NGO, “AREA”, for micro-credit activities for women in one district of Kabul City. The Micro Finance Agency for Development (MoFAD), the micro finance institution established by CARE, started its lending operation in July 2004. As of June 30, 2005, MoFAD has organized 185 savings and credit groups (SCGs) comprising of 4,632 women in 9 districts in Kabul. It has disbursed 2,470 loans amounting to $429,793 to 1,978 women-members with 98% repayment rate. Total savings mobilized amounted to $130,705. This savings is being used by the savings and credit groups to provide internal loans to their members. Hide