Madagascar Financial Inclusion Project

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The development objective of Financial Inclusion Project is to promote the financial inclusion of individuals and Micro, Small and Medium-sized Enterprises (MSMEs) in Madagascar. This project has four components. 1) The first component, Digitalization of transactions to increase usage of transaction accounts, supports the usage of transaction accounts, digital finance and cashless transactions. It has the following subcomponents. (i) Digitalization of Government Payments; (ii) Digitalization of MFIs; and (iii) Enabling environment for increased use of transaction accounts. 2) The second component, Access to Credit for MSMEs, supports access to credit for MSMEs. It has the following subcomponents. (i) Strengthening credit supply; and (ii) Enabling environment for access to credit for MSMEs. 3) The third component, Project Management and Impact Evaluation, aims to establish a dedicated Project Implementation Unit (PIU) composed of members that can work full time on the project’s implementation. 4) The fourth component, Contingent Emergency Response Component, would draw from the uncommitted credit resources under the project from other project components to cover emergency response.