The Network of Mutuelles d'Epargne and Credit ya Komor is set up in 1996 by the Comorian Government, under the initiative of the project EIEB (Support to Basic Economic Initiatives) with the financing and technical support of IFAD (Fund International for Agricultural Development). It is a project that has emerged, thanks to an evaluation mission on the feasibility of setting up a network of mutual financial institutions and a definition of intervention strategy to support the development of basic economic activities initiated by IFAD.