MICROCAPITAL BRIEF: Développement international Desjardins (DiD) to Provide Microfinance to Food Producers in Senegal in Partnership with Micronutrient Initiative

Développement international Desjardins (DiD), a Canadian nonprofit supporting the community finance sector in emerging economies, recently joined the “Project integer de nutrition dans les regions de Kedougou et Kolda (PINKK)”, which is aimed at increasing food security for women and children in the Senegalese regions of Kedougou and Kolda. The project was created by the Micronutrient Initiative (MI), a Canada-based nonprofit seeking to reduce malnutrition, and also includes World Vision Senegal, a branch of US-based NGO World Vision International, and Cellule de Lutte contre la Malnutrition (CLM), a Senegal-based nonprofit agency fighting malnutrition.

The five-year project, which has attracted CAD 20 million (USD 14.6 million) in funding from the government of Canada, is intended to increase food security for 165,000 women and children. DiD’s role will be to improve access to financial and related services for women’s groups and small enterprises engaged in producing and processing food with high nutritional value. World Vision Senegal and MI will produce and distribute micronutrient-rich foods. CLM will seek to help local communities integrate nutrition programs into their policies and planning.

Anne Gaboury, the President and CEO of DiD said, “Access to counseling services in business management and access to finance are essential components to the economic empowerment of women; they will be supported by PINKK to improve the living conditions of their households. We are very proud to contribute with our work to the success and sustainability of production activities to be supported by this important project”.

As of December 2014, DiD reported two funds under management with an overall budget of CAN 40 million (USD 29 million). As of the same date, the Desjardins Group, the parent company of DiD, reported approximately CAD 229 billion (USD 166 billion) in assets. World Vision International raised USD 1 billion in cash and in-kind gifts during 2014 and serves approximately 100 countries as of 2015.

By Kevin van den Brink, Research Associate

About Développement International Desjardins (DiD)

Développement international Desjardins (DiD) is a Canadian nonprofit corporation that specializes in providing technical support and investment for the community finance sector in Africa, Asia, Central and Eastern Europe, and Latin America and the Caribbean. DiD is a component of the Desjardins Group, a financial cooperative offering banking, insurance, securities and investment services, with approximately CAD 229 billion (USD 166 billion) in assets as of December 2014. DiD has two funds that provide loans and investment capital to microfinance institutions and funds specializing in microfinance, the Partnership Fund and the Desjardins Fund for Inclusive Finance.

DID also organizes the Proxfin network of 30 community finance institutions and operates a network of entrepreneur financial centers (EFCs) in Dar es Salam, Tanzania; Kampala, Uganda; Lusaka, Zambia; and Panama City, Panama; Tunis, Tunisia. The EFCs in Tanzania, Uganda and Zambia accept deposits. The four EFCs claim aggregate assets of CAD 68 million (USD 54 million), a loan portfolio of CAD 53 million (USD 43 million), deposits of CAD 12 million (USD 9 million) and 32,000 clients.

About World Vision Senegal

World Vision Senegal was founded in 1986 as a response to the drought of 1983-84. As of 2015, it is active in six regions: Fatick, Kaffrine, Kolda, Tambacounda, Kedougou and Diourbel. Its 124 projects serve 70,000 children directly and 880,000 individuals indirectly in 61 communities. World Vision Senegal is a branch of US-based microfinance NGO World Vision International, which raised USD 1 billion in cash and in-kind gifts during 2014 and serves approximately 100 countries as of 2015.

About Micronutrient Initiative

The Micronutrient Initiative (MI) was founded in 1992 in Ottawa, Canada with the aim of tackling malnutrition through the distribution of micronutrients in developing countries. The staff of MI includes scientists, nutritionists, and policy and development specialists. In addition to its headquarters in Ottawa, the organization has regional offices in Afghanistan, Bangladesh, Ethiopia, India, Indonesia, Kenya, Nepal, Nigeria and Pakistan. As of December 2014, MI’s total annual expenses were USD 51 million. As of the same date, MI provided approximately 500 million individuals by providing access to micronutrients, such as vitamin A and iodized salt.

Additional sources and resources

[1] Développement International Desjardins (DiD), News, “DID joins a multi-sector partnership to increase food security for women and children in Senegal”

Microcapital Universe Profile: Développement International Desjardins (DiD)

Microcapital Universe Profile: World Vision Senegal

Microcapital Universe Profile: Micronutrient Initiative

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