Blended Finance for Financial Inclusion
This initiative marks a pioneering collaboration in co-designing a blended finance facility, the first of its kind dedicated to refugees, to provide financial and non-financial services to refugees and host communities. By incorporating an innovative strategy targeting impact investors alongside financial service providers (FSPs), along with market-conducive incentives for FSPs and supportive non-financial services for refugees and host communities, a sustainable model was established that will persist and expand through the ongoing investments of partners and FSPs. The program has reached over 116,000 refugee and host entrepreneurs in four years, with 76% of the beneficiaries being women. Approximately 32,000 refugee entrepreneurs have been recipients of financial products. The initiative encompassed the provision of credit, savings accounts, financial education, and business training, resulting in the disbursal of over 8,360,000 euros and maintaining an overall portfolio quality of 5% and a written-off ratio of 3.5%.
- UNHCR
- Swedish International Development Cooperation (Sida)
- Grameen Crédit Agricole Foundation
Uganda