March 4, 2025 – Somalia
Himilo Microfinance Institution (MFI) has successfully disbursed the asset product to the Cuun group, a beneficiary under the Program Credit Guarantee Facility for Agricultural Loans, which is part of the Multilateral Fund Project. The initiative aims to tackle the ongoing issue of food insecurity, aggravated by climatic shocks, conflict, and economic instability, and focuses on empowering women and fostering financial inclusion in Somalia’s rural communities.
The Multilateral Fund Project, an initiative led by the World Food Programme (WFP), seeks to build upon the successes of the Kobciye project. This new effort is designed to scale up previous interventions while addressing gaps identified in past programs. It aims to create lasting solutions to enhance local agricultural productivity, improve community resilience, and provide sustainable livelihood opportunities for vulnerable populations.
In partnership with the Salaam Development Center (SDC), Himilo MFI is working to improve access to financial services, particularly for women in rural areas. This disbursement follows the submission of quotations by the Cuun group, whose members identified specific needs for agricultural assets to enhance their productivity.
Speaking at the handover event, representatives from Himilo MFI emphasized the importance of supporting local agricultural ventures and ensuring that marginalized communities, particularly women, have access to essential resources to secure their livelihoods. “Through this initiative, we are not just providing financial products, we are creating opportunities for women to participate actively in agricultural development, strengthening their communities and the economy,” said the spokesperson.
The asset product handover marks a significant milestone in the partnership between Himilo MFI and SDC, which continues to drive forward the vision of creating a financially inclusive society while addressing food insecurity. By equipping local farmers with the necessary tools and support, the program is expected to contribute significantly to the sustainable development of Somalia’s agriculture sector.
With the continued support of WFP and other key partners, Himilo MFI’s efforts are expected to expand, bringing much-needed resources to rural communities and helping them overcome the challenges posed by climate change, conflict, and economic volatility.
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