This pioneering initiative will improve access to finance over the next five years, contributing to scale up digital financial solutions and piloting insurance to 500,000 low-income farmers, including women, youth entrepreneurs.

This week IFAD launched  the Platform for Remittances, Investment and Migrants’ Entrepreneurship (PRIME) Central Asia Initiative in Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan.

By addressing the need for improved access to financial services and support for MSMEs in agriculture, the project aims to contribute to the creation of jobs and the sustainable and inclusive economic development of the sector.

The general objective is to test a tailor-made and innovative agricultural product for smallholder farmers and expand the loan products to rural areas.

FINCA Impact Finance, a US-based network of financial institutions, recently carried out several campaigns catering to low-income people through its affiliates in Africa and Asia.