Goals

Terrafina Microfinance chooses to support MFIs that are mostly situated in remote areas with little access to financial support from other institutions. Some MFIs are still young and small and need a great deal of financial and technical support. Terrafina's work, therefore, is relatively labor and time intensive. This hands-on grass roots support makes Terrafina unique in the microfinance sector in these African regions.

Given this approach, the goals for 2009 - 2010 are as follows:

• Total budget will increase to EUR 6 million for grants, Technical Assistance and guarantees
• Continue to focus on 6-7 countries
• Maintain a modest growth in terms of project portfolio (Terrafina funds a high number of smaller projects which demand a considerable amount of time)
• Increase the average grant amount and contract periods in these countries (helping MFIs to shift from pre-investments to seed capital, and further into loans/ guarantees)
• Continue focus on monitoring and maintenance of portfolio quality
• Following the assignment of Terrafina's first microfinance advisor in Rwanda, create more field posts.