• Proparco granted a CFA1.3 billion ($2 million) loan to VisionFund Senegal.
• Women represent 95% of VisionFund Senegal’s clients.
• VisionFund will use the funding to expand lending to rural women and underserved communities.

Proparco, the private-sector arm of the French Development Agency (AFD), announced that it granted a loan of CFA1.3 billion, or about $2 million, to VisionFund Senegal (VFS), a microfinance institution that serves rural entrepreneurs. Women account for 95% of VisionFund Senegal’s clients.

VisionFund Senegal will use the funding to support more rural women by providing loans to expand their businesses and improve their incomes. The institution aims to strengthen beneficiaries’ economic autonomy and reach new communities that remain largely underserved.

The financing will also support the growth of the institution, which has operated since March 2017. VisionFund Senegal seeks to facilitate access for rural and vulnerable populations to the traditional financial system by offering proximity-based financial services at competitive costs.

“By reaching our clients in the last miles of rural areas, we deliver more than a loan: we give them the means to become architects of their own destiny and drivers of endogenous development,” said Agnès Diene, Managing Director of VisionFund Senegal. She added, “this partnership allows us to strengthen our impact and prove that inclusive finance forms the foundation of a resilient Senegal.”

Rural women drive local development across Senegal. They manage household resources, contribute to agricultural production and support livestock activities, which makes them essential pillars of their communities.

However, limited access to financing and productive resources continues to restrict their economic potential. The new loan seeks to address this financing gap and reinforce inclusive growth in rural areas.

This article was initially published in French by Sandrine Gaingne

Adapted in English by Ange J.A de Berry Quenum