Through USAID’s Financial Access for Investing in the Development of Afghanistan project, Chemonics built the capacity of Afghan financial institutions to provide effective financing to agribusinesses and develop a legal framework and market infrastructure in which financial sector institutions and their business partners create value that provides opportunity for all Afghans.
The project supportedMSMEs by delivering innovative financial products and services, linking retail financial institutions with existing value chain relationships and agricultural networks to lower transaction costs and risk, and providing comprehensive advisory services that reduce risk and increase profit for Afghan financial institutions. Through this project, Chemonics built the capacity of financial sector associations and trained providers and infrastructure organizations to deliver necessary support to lenders. The project created an enabling environment for lenders and their business clients that reduces risk and increases certainty to improve economic growth in Afghanistan.
The project also harnessed the power of mobile money and branchless banking as a delivery mechanism for services through partnerships with and between mobile network operators, microfinance institutions, and banks. It provided technical assistance to Afghan mobile network operators in developing mobile money products, and through its mobile money innovation grant fund, fostered introduction of new money products and services.
Project Duration: 2011 - 2017
- Created 7,183 full-time equivalent jobs among FAIDA’s partners across all 34 provinces of Afghanistan.
- Facilitated $59,015,515 in private financing for clients of financial institutions and businesses, including $3.3 million in private financing for women.
- Supported 104,067 clients, including financial intermediaries, enterprises, and households, through increased access to financial services.
- Provided business planning services, training, financial planning, and financial projections to 15,836 businesses.