In collaboration with CARE Africa, Barclays support its microfinance pilot program in Uganda
Barclays bank has announced a three year, USD 20 million funding plan to support microfinance programs in ten countries across Africa, Asia and Latin America. The program will include the expansion of existing community-based financial services, as well as the introduction of new microfinance programs in collaboration with CARE International, Plan International and Accenture consultancy firm.
The funding plan will focus on expanding Barclay’s community finance pilot program originally set up in Katine, Uganda with CARE International. The program has focused on Village Savings and Loans Associations (VSLAs).The scheme was originally developed by CARE Africa over 17 years of research and is based on individual deposits and consists of holding community funds for members’ unexpected bills and expenses.