|Approval Date||11 Oct 2000|
|Signature Date||08 Mar 2001|
|Planned Completion Date||31 Dec 2007|
|Last Disbursement Planned Date||31 Dec 2007|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
The present intervention concerns the Rural Financial Services Project. It’s the result of the Government of Ghana’s (GoG) effort to tackle the lack of financial services in the rural areas which has been a major constraint to increased and sustained development of the rural areas. Indeed, the GoG recognised that developing the rural financial institutions, and harnessing the resources available in the rural areas would provide the much needed impetus for the attainment of its developmental goals for accelerated growth. Expected outcomes of the project are: i) Reduction in rural population below poverty line; ii) Increase in rural HH incomes; and iii) Increase in rural employment. This project comprises four (4) components, namely: I) Capacity Building of Informal Financial Sector; ii) Institutional Support to Rural and Community Banks; iii) Institution Building to the Apex, and iv) Institutional Support to Bank of Ghana (BOG)/MOF.
The overall objective of the Project is to strengthen the rural financial institutions in order to enhance their efficiency to intermediate in the rural areas, leading to accelerated growth and reduction in rural poverty. The Specific Objective is to strengthen the capacity of Rural and Community Banks in order to enhance their effectiveness and quality of services.
Direct beneficiaries are staff of the RCBs including clerks/cashiers, credit/appraisal officers, managers, directors and shareholders should benefit from the capacity building activities of the project. The Indirect beneficiaries are the rural poor; 60% of whom are women whose access to financial services is expected to increase. About half of the indirect beneficiaries are expected to be clients linked to the 110 RCBs, while the other half should be clients linked to microfinance institutions. Susu collectors and clubs (voluntary savings groups) are also expected to benefit from the project, and new community savings and credit groups are expected to be formed.
African Development Fund
Government Of Ghana
Bank of Ghana
|Last Update||26 Jan 2023|