Grants and Contributions:

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Title:

Increased Economic and Social Empowerment of Women and Youth in Rural Colombia

Agreement Number:

7417122 P006834001

Agreement Value:

$4,897,817.00

Agreement Date:

Feb 4, 2020 - Mar 31, 2024

Description:

This project aims to extend credit to rural women and youth in the departments of Antioquia, Cauca, Cundinamarca and Eje Cafetero of Colombia. Rural women and youth’s ability to carry out successful projects is significantly affected by their limited access to credit. This project works to provide financial institutions with evidence-based information to view these underserved populations as a long-term profitable market. Through technical assistance, including another $5 million leveraged from the private sector, the project aims to increase impact and reduce risks on both the supply and demand of Colombia’s credit system. Project activities include: (1) providing capacity building for financial institutions to expand their loan offer to women and youth specifically, leading to 32,000 new loans (14,500 for women over 28 years, 17,500 for young women and men); (2) providing capacity building for education institutions to tailor and deliver financial education programs for 10,000 rural women and young women and men; and (3) establishing a $2,000,000 guarantee fund pilot for use of up to three financial institutions, to further leverage the number of loans provided to women and youth.

Organization:

Global Affairs Canada

Expected Results:

The expected outcomes for this project include: (1) more efficient and improved management of financial mechanisms focused on rural women and youth; (2) more effective delivery of financial services to women and youth; and (3) improved business and wealth management by women and youth in rural areas.

Location:

Lévis, Quebec, CA G6V 4C3

Reference Number:

064-2019-2020-Q4-00080

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

104905757

Recipient Type:

Not-for-profit organization or charity

Recipient's Legal Name:

DID - Développement international Desjardins

Federal Riding Name:

Bellechasse--Les Etchemins--Lévis

Federal Riding Number:

24010

Program:

International Development Assistance Program

Program Purpose:

The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.