PRISM strengthens Benin’s microfinance sector by improving its organizational and financial sustainability and increasing its outreach in rural areas. CARE’s interventions include:
1) Strengthening the institutional capacity of Consortium Alafia, a group of microfinance institutions (MFIs) operating in Benin, to develop and implement a multi-year strategic plan and a management information system to track and MFIs’ performance, helping the group coordinate training for member MFIs, and improving its advocacy capabilities;
2) Providing technical assistance and support to MFIs operating in rural areas (including new product development targeted at rural poor and improved information exchange to reduce risks and improve client behaviors);
3) Strengthening private microfinance training institutions and consulting firms to improve MFIs’ access to these services while improving the long-term relationships between these organizations; and
4) Improving donor coordination under the Cellule de Microfinance by creating a database on donor programs, and facilitating regular meetings among donors and practitioners.