Proparco strengthens its partnership with BRAC International Microfinance

After its first partnership in 2022, Proparco reaffirms its commitment to BRAC International Microfinance (BI MF), the international arm of BRAC, one of the most innovative and impactful development organizations in the world. Founded in Bangladesh in 1972 by Sir Fazle Hasan Abed, BRAC has been a pioneer of microfinance and now operates in seven countries outside of Bangladesh - Myanmar, Tanzania, Uganda, Rwanda, Sierra Leone, Ghana and Liberia. Together, these seven entities serve more than 870,000 clients, 96% of whom are women.

BI MF’s mission is to deliver responsible financial services to people at the bottom of the pyramid, with a focus on women living in poverty in rural and hard-to-reach areas. By creating self-employment opportunities, building financial resilience, and fostering women’s entrepreneurial spirit, BI MF empowers women to achieve economic independence and drive community growth.  In addition to serving a large majority of women, BI MF employs 87% women (59% in management positions), and has a strong commitment to empowering women, qualifying the project for the 2X Challenge.

As part of the $32 million program with BIO, Global Partnerships and Ceniarth, Proparco’s $12 million contribution will support BI MF’s subsidiaries in Tanzania, Uganda, Sierra Leone, and Liberia. These funds will expand BI MF’s capacity to serve vulnerable populations, particularly women, through financial inclusion.

“After our first successful previous partnership with BI MF in 2022, we are happy to continue to support them in their mission and help reduce inequalities through a better financial inclusion”, said Jean Guyonnet-Dupérat, Regional Director for East Africa.

This project is part of the Food & Agriculture Resilience Mission (FARM) initiative, launched in 2022 by Emmanuel Macron, President of the French Republic, alongside the European Union, the G7 and the African Union. FARM’s ambition is to improve food security in vulnerable regions, in particular by promoting local agri-food supply chains to foster local and regional production. As part of this effort, BI MF recently developed its Agrifinance 2.0 strategy to offer financial services to smallholder farmers, agri-MSMEs, and underserved populations along the agricultural value chain.