Madagascar is an island located in the Indian Ocean. It covers 587,040 km2 for more than 20 million inhabitants (2011 estimation). According to the national survey monitoring the Millennium Development Goals (MDGs) in 2012-2013 and conducted by the national statistics institute (INSTAT), Madagascar is characterized by high level of poverty, regardless of the threshold adopted. Based on the national threshold of 535 603 MGA (245 $) per person, per year, 71.5 % of the population are classified as poor, and based on the international poverty line of $ 2 PPP, almost 91% of the population are classified as poor..
How We Are Helping?
The UNCDF-UNDP joint Programme d’Appui à la Finance Inclusive à Madagascar (PAFIM) has been developed in accordance with the Government’s national strategy for microfinance, which itself was developed in 2004 with UNCDF technical support. The programme promotes increased access to sustainable microfinance services. Particular attention is paid to poor households and low-income micro-entrepreneurs by supporting the full integration of sustainable microfinance institutions into the national financial market. The programme portfolio includes contributions from UNCDF, UNDP and the government.