BFC conducted preliminary due diligence of 12 Ethiopian microfinance institutions.
The primary purpose of the assignment was to verify the compliance with Operating Policy 8.30 requirements of MFIs interested in receiving funding from the Women’s Entrepreneurship Development Program (WEDP). The assignment was carried out by BFC experts that conducted site visits, during which they performed the assessment of all 12 MFIs.The main stages of the assignment included:
- Reviewing the MFIs’ documentation
- Performing external audit of the MFI
- Conducting on-site assessment processes for each MFI
- Providing recommendations for project design