MCC Financial Enabling Environmental Activity

$10.31M USD

Funder	Millennium Challenge Corporation
Recipient Organization	U.S. Government - Millennium Challenge Corporation
Country	Benin
Start Date	Mar 26, 2007
End Date	Jul 08, 2010
Duration	1,200 days
Number of Grantees	31
Roles	Recipient
Data Source	US Foreign Aid
Grant ID	`65788-40`

Grant Description

Benin - Access To Financial Services Project - Financial Enabling Environmental Activity: The objective of the Financial Enabling Environment Activity is to identify and support legal and policy changes that are needed to facilitate the deepening and expansion of the financial sector in Benin.

The Financial Enabling Environment Activity consists of the following sub-activities: Strengthening of Microfinance Supervision: Support for Cellule de Microfinance ("Cellule"), microfinance supervisory authority in the Ministry of Finance, and for audits of microfinance institutions.

Multi-stakeholder forums: Conduct of electronic and / or physical forums to discuss potential improvements to laws and policies relating to an expanded financial sector and use of land titles as collateral.

Improvement of regulatory environment: Support for financial sector regulatory changes by funding the analysis of and advocacy for such changes.

Credit Bureau capacity building: Building the capacity of the MFI credit information bureau so that it can track the payment history of borrowers more accurately.

Land titles as collateral: Provision of support to assist ability of financial institutions to use land titles as collateral in loans or refinancings.