Réseau de Micro-institutions de Croissance de Revenus (RMCR)
What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Partner Description:
Founded in 2000, Réseau de Micro-institutions de Croissance de Revenus (RMCR) is a Malian Microfinance Institution (MFI) providing credit to low-income communities living in rural areas of Mali. Its aim is to move rural populations, abandoned by the conventional financial system, from dependence to resilience by offering them nearby and qualitative financial services at competitive prices.
In association with World Vision Mali, RMCR strives to work in the most remote areas in Mali, offering micro loans to rural communities, mostly women, with no access to other funding sources.
RMCR Head Office is located in Bamako, the political capital of Mali, with a network of 25 points of services; operating in the most rural areas of the country.
In 2012, Mali experienced a military coup making access to international funding extremely difficult and tightening credit availability for institutions like RMCR. The political situation is now returning to normal, after transparent presidential and parliamentary elections were conducted in 2013.
More than 43% of Malian population lives at or below the poverty line, according to the World Bank.
Support from Kiva lenders will help make microloans available to sustain rural communities.
A unique lending approach:
The organization uses a group lending methodology which consists of granting micro loans to two types of groups: Community Banks with 10 to 35 members and Solidarity Groups with 3 to 9 members.
Borrowers can graduate from Community Banks to Solidarity Groups, to access slightly larger loans in order to gain more earnings or profits.
RMCR customizes its loans in order to fit the specific cycles of the activities financed.
To make the loans more effective, RMCR also provides assistance and training on micro business management, trough credit with education schemes.
Groups are formed on mutual trust and solidarity: each member vouches for the loans of all other members of the same group.