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Financing microfinance institutions and women's and youth groups: an envelope of 150 million FCFA granted

24/07/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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On Monday, July 22, the Minister of Family and Solidarity, Maïmouna Dièye, handed over institutional support and financing certificates to partner microfinance institutions and to 199 youth and women's groups, for a value of 150 million CFA francs.

The support of the Ministry of Family and Solidarity supports is part of the second phase of the Literacy and Trade Apprenticeship Program for the Fight against Poverty (PALAM 2), an initiative of the Islamic Development Bank (BID). According to Minister Maimouna Dièye, “PALAM is an essential mechanism for combating the intergenerational transmission of poverty in rural areas”. “Today, I issued a series of institutional support to the national management, responsibility centers of PALAM, to partner microfinance institutions, as well as to a first batch of 199 youth and women's groups, for a total amount of 150 million CFA francs,” she said.

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