Financial Inclusion and Cluster Development (FINCLUDE)

The Financial Inclusion and Cluster Development (FINCLUDE) Project is a six-year project jointly funded by the International Fund for Agricultural Development (IFAD) and the Government of the Kingdom of Eswatini (GOE). It was approved by the IFAD Executive Board on 21 July 2018 and entered into force on 5 September 2019. The total cost of the Project is estimated at US$38.56 million. The financing package of the project includes an IFAD loan of USD8.9 million, an IFAD Grant of USD0.3 million via the Financing Facility for Remittances, USD2.9 million from the Government of Eswatini, and a climate finance grant of USD5 million plus contributions from beneficiaries of USD13.8 million and from enterprises of USD7.5 million. The climate finance grant request was a joint initiative between the MoF and MoTEA to introduce climate aspects to the rural finance sector in Eswatini, and target one of the major climate financing institutions (Green Climate Fund, Global Environmental Facility, Adaptation Fund). The scheduled project completion date is 5 September 2019, and the closing date is 31 March 2026.