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Selection Criteria of Financial Intermediaries

1) Minimum qualification for funding

a) Clean audit report of the FI from our internal audit and credit departments (if existing), on such areas as:

Timeliness in submitting interest repayment
Quality of quarterly reports
Right targeting
Ability and willingness to revolve funds
b) Have women friendly products/programmes
c) Outreach in funds disbursement- this include both geographical and number of beneficiaries reached
d) Financial position & performance for the last 2 years
e) Level of automation- a robust system
f) Personnel and management

Must be gender responsive(management to exhibit gender balance)
Sufficient and experienced credit staff
g) Filing of annual returns
h) Ability to pledge marketable collateral securities

2) Checklist to facilitate evaluation;
a) Letter of application
b) Due Diligence by WEF officers
c) CRB report
d) Company profile-detailing the age, products and services, area of focus, list of branches, organizational structure, staff establishment and relevant experience/qualifications etc
e) Audited accounts for the last 3 years
f) Borrowing powers from the Ministry of Corporative(if Sacco)

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