USAID Announces Partnership with Microcred Banque Madagascar

Photo :  Daniele Nyirandutyie - Director of Health, Population and Nutrition for USAID

Michael Iams, Directeur General for Microcred Banque (Source : USAID)

Partnership will provide private sector financing for water, sanitation and hygiene and health

ANTANANARIVO — The United States Agency for International Development (USAID) Madagascar announces a new partnership with Microcred Banque Madagascar (MBM) which will increase access to financing options and loans for small, medium and micro private businesses and service providers in the water, sanitation and hygiene (WASH) and health sectors.

Not being able to access money for investment is a major constraint to business growth in Madagascar. With a public health sector that is only able to provide one-third of people with basic health services and with less than half the population having access to clean water, building the capacity of the private sector is critical. By gaining access to financial resources, small, medium and micro-sized private health and WASH providers will be able to expand and improve the quality of their health services - which results in improved care for more people.

USAID is committed to supporting the Malagasy Government’s Universal Health Coverage strategy by increasing financing for health services. Through its Supporting Health Outcomes through the Private Sector (SHOPS)Plus activity, USAID will work closely with MBM to support expansion of financial opportunities in the health and WASH sectors. In parallel, USAID will also provide financial management training to small, medium and micro enterprises in the health and WASH sectors helping them learn to apply for loans, use loans to expand and improve their services, and generate additional income to pay back those loans.

Established in 2006, MBM is a digital finance bank whose mission is offering quality financial services, adapted and accessible, to allow people better access to banking services. MBM offers financial services tailored to the needs of unbanked populations, especially micro and small entrepreneurs, with a focus on financial inclusion. MBM belongs to Microcred Group, one of the few global financial institutions to have successfully deployed a profitable and tailor-made model of micro-enterprise and small-to-medium enterprise financing.

MBM operates throughout Madagascar with 39 branches, four mobile branches and 300 agents. Its 155,000 customers use MBM services that include savings, credit, money transfer, means of payment and insurance. Along with partners such as USAID, MBM seeks to improve the quality of life of its customers and their families and to participate in Madagascar’s development.

The USAID and MBM partnership, in tandem with the Government of Madagascar, will support the growth of private clinics and providers in the health and WASH sectors, improving the health and well-being of the Malagasy people throughout the country.

Published on Wednesday, 06 December 2017 12:21