... Developing Rural Financing to achieve Food Security
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RUFIN will achieve its objectives, says IFAD officer
Uplifting the life of the rural poor
Edo State Commissioner of Agriculture and Natural Resources Lauds RUFIN programme
The Changing Face of Microfinancing and Agricultural Sector Development in Nigeria: The RUFIN Story
2013 Forbes Africa person of the year award goes to Dr. Akinwum Adesina
IFAD President urges FG to implement Value Chain Agric. Programme
Agric Minister commends IFAD for its support to Nigeria’s Agriculture
IFAD Programmes seek new Communication Specialist
Nigeria pledges $15m to IFAD in poverty fight
IFAD supports Nigeria’s Agricultural Agenda with $500,000
RUFIN MFBs urged to step up lending for the 2012 farming season
Refinance: RUFIN mentored MFBs to benefit from BOA’s N1bn fund
RUFIN trains Village Savings Groups to be functional, start enterprises
RUFIN QUICK FACTS
Edo pays N12m 2011 counterpart funds to RUFIN
M&E Learning Forum seeks synergy across all IFAD programmes
Winrock International to boost the Capacity of RUFIN groups, Staff – Country Director
Benue pays N19m counterpart funds, boosts RUFIN Programme Implementation
Entrepreneurial Development: RUFIN, SMEDAN in crucial pact
BICMFB Ltd Bauchi disburses N10m loans to RUFIN groups
ECOBANK pledges to cooperate with RUFIN
ABU seeks collaboration with RUFIN, other stakeholders, on Rural Finance Centre
RUFIN begins Participatory Rural Appraisal of financial institutions in 12 states
RUFIN seeks collaboration with EFINA
NAMB Executive Secretary assumes office with a Mission

 

December Quick Facts

Mon Oct 17 2011


Seven Year Programme


Became effective on 20 January, 2010


1) Covers 12 States and 36 Local Government Areas (3 per State)


2) Programme Cost: $27.2 million


Four participating Institutions: CBN, Bank of Agriculture (BOA), NAPEP & Federal Department of Cooperatives


Implementing Agency: NPAFS ( Federal Ministry of Agriculture and Rural Development)


Programme Objective: Develop and strengthen microfinance institutions and establish linkage between these institutions and formal financing institutions in order to create a viable and sustainable rural financial system


Goal: Improvement of income, food security and general living conditions of the poor rural households particularly women headed households, youth and the physically challenged.


Programme Components & Sub Components:


1. Capacity building & Technical support to Bank and non-Bank Microfinance Institutions. This consists of two sub components:


Capacity building for bank and Non Bank Financial Institutions


Promotion of Access to Refinance and Linkage facilities


2. Targeted Development & Strengthening Institutional


Environment for Micro-finance Development. This consists of three sub-


Components:


Improve policy, legal and institutional framework for cooperatives and RMFIs


Implementation support, regulation and supervision of MFB


Research, documentation and policy dialogue


3. Programme Coordination and Management



Milestones: (As at August, 2011)


2716 RMFIs linked to 32 MFBs and 10 Financial NGOs


56 RMFIs Apex Organisations formed/or strengthened


2,125 Active borrowers ( 1, 392 Men; 733 Women; 1,218 Male & Female Youth; 22 Male & Female physically challenged)


658 RMFIs are receiving services from Apex Organisations


N25,909,161.35 Voluntary savings mobilized