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.
|Location||Uganda, Central Africa|
|Value||USD 45 Million|