Further scale and document the impact of BRAC’s “microfinance multiplied” approach
Why We Partnered
BRAC is the largest non-profit organization in the developing world, serving more than 138 million people with its holistic approach to alleviating poverty. It is one of the largest providers of microfinance services with programs in Asia and Africa. BRAC’s approach, which it calls “microfinance multiplied,” increases the ability of poor clients to productively use their loans to augment their incomes, build their assets, and stimulate economic and social development within their communities.
In October 2008, The MasterCard Foundation committed $19.6 million to enable BRAC to expand its microfinance multiplied program in Uganda, open 51 branches and serve two million people. Among the objectives was a focus to help BRAC document the long-term impact of this multiplier approach in Africa. The program achieved remarkable scale, providing microfinance loans to approximately 110,000 borrowers, access to high quality agricultural inputs to 50,000 farmers, productivity-enhancing services to 124,000 poultry and livestock rearers, and access to basic health services to more than 1.5 million people. BRAC is also empowering 32,000 adolescent girls and young people from poor and marginal households, providing them with education, training and access to financial services. Uganda now serves as the model country for BRAC to inform its Africa strategy.
The MasterCard Foundation’s additional commitment of $25 million, made in March 2011, brings the total commitment to $45 million and builds on the program’s success by deepening the outreach of the current microfinance and livelihoods program. This expanded program will enable BRAC to open 40 additional branches and improve skills and livelihoods options of young people across all program areas. This includes the expansion of the adolescent girls’ program, documenting and disseminating results on long-term program impact, and implementing a sustainability plan that phases out Foundation funding in five years.
- Deepen and expand outreach of BRAC’s programs to serve 4.2 million people.
- Innovate and scale BRAC’s approach to widen the education and livelihood opportunities for adolescent girls and young women.
- Build an evidence base for BRAC’s model and prepare for long-term sustainability in Uganda.
Where We Are Now
- 2.8 million people have received financial, health, and agricultural services.
- 50,495 girls and young women are enrolled in the Empowerment and Livelihoods Program. Of these, 6,396 received livelihood training, and 7,939 accessed loans through the youth microfinance program.
- 104,563 farmers and 1,800 community health promoters have been trained.
- 3,000 students were enrolled in 100 new second-chance schools. 2,600 students graduated and the remaining 400 joined youth clubs within their villages.
- Since 2010, BRAC has made 704,031 cumulative loans and currently has 109,029 borrowers at 91 branches.
Voices from the Field
BRAC New Horizons
Watch this eleven-minute documentary entitled New Horizons (Part 1 & 2) and discover how BRAC through its multifaceted interventions has changed the lives of some of the world’s poorest people. It gives a glimpse of how access to credit, education, health services and other support services changes lives by empowering the poor especially women.
During a recent site visit to Kampala, Uganda in January, 2010, Susan Davis, President and CEO of BRAC USA; Imran Matin, Deputy Executive Director of BRAC International; Ariful Islam, Program Coordinator for BRAC Uganda; and Reeta Roy, President and CEO of The MasterCard Foundation, paused to discuss the progress of their two year partnership. Learn More
Oxford, United Kingdom – BRAC and The MasterCard Foundation today announced the expansion of a $45 million partnership to scale BRAC’s innovative microfinance multiplied model in Uganda.