Mastercard Foundation funds new ICCO project in Senegal

We are pleased to announce that the Mastercard Foundation has signed an agreement with ICCO to fund the COVID-19 Recovery and Resilience Agrifinance project, allocating USD 3,389,135 million to do so.

In this two-year project, the ICCO Senegal country team aims to effectively respond to the social and economic shocks in Senegal, that will result from the current pandemic.

“This partnership with the Mastercard Foundation will help to support recovery and strengthen resilience of 80,000 farmers in 11 regions in Senegal, who are involved in five value chains. We will focus on access to inputs and digitizing value chains,” explains Idrissa Ba, ICCO Cooperation’s STARS country lead in Senegal.

With over three decades of proven field activities in Senegal; providing development assistance in a wide range of themes, ICCO has the expertise and know-how to lead this effort. In the last few years, in partnership with the Mastercard Foundation, the ICCO Senegal team executed the five-year STARS program, using a Market Systems Development approach to improve access to finance and markets. In 2019 through STARS, ICCO in Senegal worked together with four MFIs and ten producer organizations developing and implementing five loan products using A-CAT; reaching over 32,000 farmers, of which more than 23,000 were female farmers.