The Rural Income and Employment Enhancement Project (RIEEP) is the flagship project for The Microfinance Support Centre Limited (MSC), jointly funded by the African Development Bank (AfDB) and the Islamic Development Bank (IsDB).
RIEEP is intended contribute towards poverty eradication in rural Uganda, by facilitating access to and utilization of affordable financial and business development service to about 1.4m rural poor.
The project is conceived on the factors affecting rural financial intermediation, which include the absence of strong retail capacity in microfinance institutions, extending access of financial services to rural areas (where most of the poor are concentrated in a cost-effective manner), weak institutional infrastructure (including service providers such as training institutes, accountancy services, credit reference bureaus and appropriate information technologies).
RIEEP will achieve the following objectives:
Financial Services: provide additional resources to MSC for whole sale lending to SACCO's Unions, SMEs and MFI's across the country.
Institutional and Business Development Services: strengthen the capacity of MSC to effectively discharge its mandate to the poor.
So far the cumulative loan disbursement under RIEEP is UGX 30,064,562,093 to SACCOS, primary societies, Unions, SMEs and MFIs as shown in the table below;
CUMULATIVE LOANS DISBURSED UNDER RIEEP SINCE DECEMBER 2010 TO DECEMBER 2014
· Savings and Credit Cooperative Societies (SACCOs)
· Unions & Primary Cooperative Societies
· Small and Medium Enterprises (SMEs)
NO. OF LOANS
TOTAL VALUE DISBURSED
TOTAL UGX 61 30,064,562,093