Partnership to Scale Innovative Microfinance Model in Uganda

To further scale and document the impact of BRAC’s “microfinance multiplied” approach.

Partnership to Scale Innovative Microfinance Model in Uganda

BRAC’s approach called the “Microfinance Multiplied,” aims to increases the ability of poor clients to productively use their loans to augment their incomes, build their assets, and stimulate economic and social development within their communities.

In October 2008, The MasterCard Foundation committed $19.6 million to enable BRAC to expand its microfinance multiplied program in Uganda, open 51 branches and serve two million people. Among the objectives was a focus to help BRAC document the long-term impact of this multiplier approach in Africa. The program achieved remarkable scale, providing microfinance loans to approximately 110,000 borrowers, access to high quality agricultural inputs to 50,000 farmers, productivity-enhancing services to 124,000 poultry and livestock rearers, and access to basic health services to more than 1.5 million people. BRAC is also empowering 32,000 adolescent girls and young people from poor and marginal households, providing them with education, training and access to financial services. Uganda now serves as the model country for BRAC to inform its Africa strategy.

In March 2008, The MasterCard Foundation made an additional commitment of $25 million, which brings the total commitment to $45 million and builds on the program’s success by deepening the outreach of the current microfinance and livelihoods program. This expanded program will enable BRAC to open 40 additional branches and improve skills and livelihoods options of young people across all program areas. This includes the expansion of the adolescent girls’ program, documenting and disseminating results on long-term program impact, and implementing a sustainability plan that phases out Foundation funding in five years.

Partners

  • MasterCard Foundation

    Foundation
    United States | Staff size: 51-100

    The MasterCard Foundation is an independent foundation based in Toronto, Canada with $10 billion in assets. Their vision is to create the opportunity for all to learn and prosper. They promote...

  • Bangladesh Rural Advancement Committee (BRAC)

    Implementing NGO
    India | Staff size: 10,000+

    BRAC is a development organisation dedicated to alleviating poverty by empowering the poor to bring about change in their own lives.
    We were founded in Bangladesh in 1972, and over the...

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Key Information

LocationUganda, Central Africa
StatusActive
  • Start Date 2011
ValueUSD 45 Million
Sectors