Project

Financial Inclusion and Cluster Development Project (FINCLUDE)

Sector

Credit and Financial services

Financing chart
Financing Gap (USD)
5,123,223
Target group
6,750
Beneficiaries
Project target area

Nationwide

 
Summary
Financial Inclusion and Cluster Development Project (FINCLUDE) aims to improve prosperity and resilience of Swazi smallholders and micro-entrepreneurs through increasingly profitable and resilient links to markets and appropriate financial services. Its development objective is to increase returns from sustainable farm and non-farm enterprise for rural people, including poor and youth, through efficient public and private sector investment. This will be measured against the targets of: 6,750 beneficiaries’ achieving annual return on labour in farming or non-farm enterprises of >120% of unskilled wage rate.
Components and Objectives
FINCLUDE has three components:
Component 1: Inclusive Cluster Development. It aims to facilitate cluster brokering and investment, which will catalyse the emergence of competitive clusters for products with confirmed market potential and comparative advantages for smallholder production.
Component 2: Increasing supply of rural financial services. It aims to i) address the information gap between supply and demand for financial services; and ii) facilitate partnerships with Financial Institutions to increase loan supply and improve savings culture.
Component 3: Climate Resilient Decision Making and Investment. It aims to i) provide climate information services for producers, traders and bankers to better manage their business; ii) build a Climate Investment Facility to leverage investments in climate resilience by producers, traders and governmen; and iii) improve access to climate finance.
The co-financing need of this project is related to Component 3.
Financing

Total project cost

33,189,000

IFAD financing
 

16.4 %
5,455,777
5,455,777
IFAD

International cofinancing

0.0 %
0

National cofinancing

68.1 %
22,610,000
13,832,000
Beneficiaries
7,463,000
Local private sector
1,315,000
National Government

Financing
gap

15.4 %
5,123,223

Approval date

July 21, 2018

Expected duration

2018 –
2025

Lending terms

Ordinary

Income level

Lower-middle Income

Replenishment cycle

IFAD 12

Implementing agency

Ministry of Finance

Contact information

Country Director: 
Francesco 
Rispoli 
Email: f.rispoli@ifad.org
Mobile: 
+393666619239