RURAL SAVINGS

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The Rural Savings and Loans Rehabilitation and Promotion Project will help revitalize the Rural Savings and Loans Institution (CREP)/Saving and Loans Cooperatives (COOPEC) Network by rehabilitating existing CREPs and assisting in the creation of new ones where justified. To this end, it would capitalize on results achieved during the pilot operation by: (a) completing the rehabilitation process; (b) providing technical assistance and training to the CREP/COOPEC membership in accounting and basic financial management; and (c) funding awareness campaigns designed to fully internalize the main principles of the mutualistic movement and ensure a strong sense of ownership from the members. In order to ensure long-term sustainability and financial independence of the movement, project efforts will focus on rural savings mobilization. To meet the above objectives, the project will include the following components: (a) rehabilitation and development of local CREPs; (b) support to regional service units (RSUs); and (c) support to the central management unit (CMU).