Mandate

The mandate of the Financial Inclusion Fund as anchored in the Executive Order No.1 of January, 2023 is to:

1. Promote financial inclusion through expanding access to credit by persons, micro, small and medium enterprises, chamas, table banking groups, groups, cooperative societies, associations, and start-ups for economic growth and job creation;
2. Address the qualitative dimension of financial inclusion, in particular, responsible lending and borrowing, ethical practices, consumer rights, and financial literacy;
3. Strengthen the financial and operational capacity of informal sector membership-based financial institutions including cooperative societies, chamas, table banking groups, and micro-finance institutions;

iv. Promote market interventions to improve the supply of affordable credit to Micro, Small, and Medium-sized Enterprises (MSMEs)  including creditworthiness-based lending, risk pricing, business and financial management skills, and cost of doing business;

v. Address the low participation of the non-formal wage workforce, namely informal sector entrepreneurs and workers, smallholder farmers,  pastoralists, fisherfolk, and other self- employed in health insurance and retirement benefit schemes, for the purpose of achieving universal  health coverage (UHC) and universal social security;

vi. Provide for government counterpart funding for the savings for pension component for beneficiaries, who shall be natural persons, of the  Fund.