Official launch of the "Making Access to financial services Possible" process in the DRC

Oct 4, 2013

A seamstress at Goma. Copyright: Héloïse Vilain, UNDP, 2007

The "MAP: Making Access to financial services Possible" is an in-depth diagnostic tool for programming for the financial sector created in partnership with the UNCDF (UN Capital Development Fund), "Fin Mark Trust" and "Cenfri" with the purpose of promoting inclusive financial sectors in less advanced nations (LAN).

Thanks to this program, the UNDP, UNCDF, Belgium, Sweden and Great Britain confirmed their support for the Congolese government to render financial services more accessible to women and men excluded from the traditional banking system. With such a line of sight, by the end of 2014, the opening of one million accounts by clients deemed "vulnerable". Concretely, in the DRC, interest rates are inferior to 5% although the African median is at 15%. The DRC is a pilot country for inclusive finance thus named "pro-poor" finance.

Inclusive finance signifies that those individuals habitually excluded from classic banking systems, notably women and children, are still capable of accessing varied financial services, through institutions regulated and supervised by the Central Congolese Bank; this done through a durable, viable, professional and efficacious commercial lens.

Thus women and men that are animal breeders, small or large farmers, traders, or artisans will be able to find a secure and protected financial sector, adapted to their diverse needs, without falling for the risk of surrendering or perpetuating the vicious cycle of precariousness. It is thus a lever to encourage the creation and/or consolidation of micro-projects in rural zones and the autonomization of women.

The UNDP, through the unity of its inclusive vision and sustainable development accompanies the "MAP" initiative so as to reinforce the component that is Means of Durable existence (MDE). With its partners in the Belgian, Swedish and British cooperation, the Congolese government thus pursues the realization of the Millenial Goals for the N#1 development that is the fight against poverty and access to basic services. These two priorities are at the top of the list of priorities in the Strategy of the Belief in the reduction of poverty (SBRP) as well as in the plan of assistance of the United Nations development assistance framework (UNDAF).

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