SCBF is super pleased to announce our continued strategic partnership with the Swiss Agency for Development and Cooperation (SDC) until the end of 2024. The new SDC International Cooperation Strategy 2021–24 of Switzerland aims to be more sharply focused and thus even more effective than in the past. Going forward, SDC and SCBF will aim to fully harness the potential of the private sector and digitalisation to improve the quality of life of low-income households in emerging and developing countries. SCBF’s projects are great examples of private sector engagement, as mentioned in the SDC Handbook on Private Sector Engagement and the General Guidance on the Private Sector in the context of the International Cooperation Strategy 2021-24.
SDC topped up its donor contribution to SCBF by CHF 7.9 million with participation from SDC divisions Latin America & Caribbean (ALAK), Global Programme Food Security (GPFS), and Eastern and Southern Africa (ESA). This is in addition to the CHF 4 million funding from the SDC’s West Africa division for the duration of 2019 to 2023. SCBF’s goals over the next four years include reaching 1’000’000 low-income and vulnerable households, smallholder farmers and MSMEs, who newly use a formal financial service or product for which 66% (previously at 59%) will be women, support at least 45 (30 new) partner financial institutions, as well as raise additional funding from new funders / donors and in particular the private sector.
“SDC is convinced its support to SCBF has been unique and pathed the way in developing innovative public- private development partnerships by leveraging the expertise and financial resources of the Swiss private sector and by increasing financial inclusion for disadvantaged and vulnerable groups. Since its creation in 2011 and up until the end of 2019, 2.1 million low-income clients have been reached, 60% women. Tailored to their specific needs, financial products often allow small scale-entrepreneurs to develop their business, increase their income and to improve the well-being of their families. In the third phase we hope for substantial private investments in order to expand the outreach and to strengthen the sustainability of partner institutions.” – Beatrice Meyer, Head of Division Latin America and the Caribbean, E+1 and KEP
“SCBF is thrilled to receive its third round of funding from the Swiss Agency for Development and Cooperation (SDC), particularly as it starts celebrating its 10-year anniversary. The funding will enable us to leverage the SCBF public-private development partnership’s expertise and financial resources to improve the quality of life of low-income and vulnerable households, smallholder farmers, MSMEs and in particular women.” – Sitara Merchant, CEO SCBF
About the Swiss Agency for Development and Cooperation (SDC)
The Swiss Agency for Development and Cooperation (SDC) is the agency for international cooperation in the Federal Department of Foreign Affairs (FDFA). It is responsible for carrying out the foreign policy of the Federal Council in the areas of humanitarian aid, development cooperation and cooperation. The strategic goals of SDC include preventing and overcoming crises, creating access to resources, promoting sustainable economic growth, supporting the transition to democratic, market-based systems and helping to shape environmentally and socially compatible globalization. Gender equality and good governance are important guidelines.
SCBF is a public-private development partnership, and its intervention strategy is to give grants to technical assistance providers to work with partner financial institutions to develop and upscale client-centred financial products, channels and services in emerging and developing countries.
The financial products and services include savings, loans, insurance, digital financial services, or financial education, among others. The work of SCBF helps increase their access and usage to SCBF’s end-clients; low-income people, smallholder farmers and small-scale entrepreneurs and in particular women, to improve their livelihoods.