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The Water & Microfinance Initiative (IEM)

Through its Water & Microfinance Initiative (IEM), fully funded by the Swiss SDC, Pamiga helps 4 MFIs in West Africa to develop financial products to improve access to water for productive purposes.

Needs expressed by the field

In the Sahel, small producers, farmers and ranchers have a vital need to access and manage scarce water resources to expand their operations.
In many cases, they have to make significant investments in drilling, pumps, irrigation systems and storage that conventional micro credit cannot fund, be it in terms of amount, maturity, and volume.
Pamiga integrated response: Technical Assistance + Mid-term refinancing
Pamiga Association provides the technical assistance: market survey, development support for new medium-term products, budgeting, training, technical partners;
Pamiga Finance SA in turn created a dedicated compartment, funded with 3M€, and signed a medium-term refinancing facilty with each MFI, to bring adequate resources adapted to its market and its profile in terms of tenor, amount and seasonality of reimbursement, so as to refinance teh development of its water loan portfolio.
The MFIs of the program now have access to resources enabling them to finance the really transformative projects of their rural clients, with microcredits of 24 months.
Moreover, by increasing their stable resources, the MFIs, accompanied by Pamiga Finance, are now in a position to negotiate more favorable terms for their local refinancing.

Investor & Sponsor
This compartment of Pamiga Finance was funded by two 4-year bonds of 3M €, fully subscribed by the SDC.
SDC also provided a grant to finance Pamiga Technical Assistance.

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Credit terms
Credit conditions are determined on a case by case basis between each MFI and Pamiga Finance:
• amount, duration, periodicity of repayment guarantees, interest rate; 
• based on the assessment of the demand and needs on the field, the absorption capacity of the MFI, the ambition of its management;
• based on the work of due diligence conducted by Pamiga Finance on the institution itself: economic, financial, accounting, HR, MIS and portfolio performance, as well as external resources.
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