Financial Development SA (Finadev Benin) provides financial services to entrepreneurs and is mainly active in urban areas in the south of Benin. The financial institution offers microcredit, SME loans, savings products and micro-insurance products and plans to expand geographically to more rural areas while strengthening its operations and keeping its social mission. The loan provided by Triodos Sustainable Finance Foundation will support Finadev Benin in realising its ambitions.
KEY INDICATORS at year-end 2015:
- number of loan clients: 7,318
- percentage female loan clients: 25%
- percentage rural clients: 7%
- average loan amount: EUR 1,873
- number of savings clients: -
Whoever you are, and wherever you live in the world, you are likely to want permanent access to financial services. Microfinance banks play a crucial role providing access to finance to an increasing number of people living on low-incomes. We finance microfinance institutions because they help to build inclusive financial sectors, where the majority of people have access to financial services, leading to a sustainable basis for balanced social and economic development.