When UNCDF prepared the project in 2003, analysis indicated that Sierra Leone had a thriving informal sector with limited access to financial services. Despite numerous microcredit NGOs, projects and programs there was a significant estimated unmet demand for financial services.

In order to build a competitive, sustainable, inclusive financial sector, the project addressed two major constraints: the absence of professional microfinance institutions to drive the development of a microfinance sector and the lack of an enabling environment shaped to optimally develop the growing sustainability and outreach of the young microfinance industry.

Management Response Link