MEDA's Expanding Access to Supply Chain Finance for SMEs in East Africa (EASE) project with the Norwegian Agency for Development Cooperation (NORAD) is committed to the improved access to finance in Kenya, Uganda and Tanzania by commercializing technology driven supply-chain financing solutions to small and medium enterprise (SME) value chains in East Africa through various banks and financial institutions.
The project (valued at NOK 29,174,797) will provide technical and financial assistance to MEDA’s implementing partner – Financial Access (FACM), and at least three financial institutions in Uganda, Tanzania and Kenya. These institutions will facilitate a collateral-free working capital loan to at least 100 SMEs with a total portfolio of at least USD 10 Million through reverse factor and supply finance solutions.
Project Quick Facts
Goal: Improve access to finance through implementation of supply chain financing franchise model through local banks and financial intermediaries.
Reaching: 100 small and medium enterprises
Funding: Norwegian Agency for Development Cooperation (NORAD)
Project length: January 2019 to December 2021
The overall objective of Themar is to help transition Yemen to a non-oil economy through the creation of an environment conducive to private sector development and job creation, which could eventually lead to poverty reduction.
Themar aims to support the development of inclusive financial systems targeted at micro, small, and medium enterprises (MSMEs). The project will work with Yemeni financial services providers (FSPs) and key facilitating partners (KFPs) aiming to increase the availability and effectiveness of financial products and services, to better meet the financial needs of MSMEs. Structurally, a fund and a technical assistance component will be established. Under the fund, Themar will disburse on-lending funds to FSPs working with MSMEs. Themar will also establish non-financial services linkages with MSMEs, as, in private sector development, access to non-financial services are as important as the access to financial services.
Ultimately, it is hoped that this intervention will lead to long-lasting impact and sustainable results. After the project has finished, the fund component would be transitioned to a local FSP. On the whole, the project aims to strengthen capacity of the local institutions by transfer of knowledge.
Project Quick Facts
Goal – To help transition Yemen to a non-oil economy through the creation of an environment conducive to private sector development and job creation, which could eventually lead to poverty reduction.
Reaching – 5,000
Funding – European Commission
Duration– Nov 2013 - July 2019