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| Project Name: | Credit for the Informal Sector (CRISP) Phase II |
| Project Description: |
The DFID-funded Credit for Informal Sector Phase II (CRISP) project, operational in Mutare, Chitungwiza, Bulawayo and Highfields,
aims to improve the welfare of poor groups in urban/ peri-urban areas by increasing employment opportunities and
incomes. Currently, the project involves more than 10,000 participants in savings groups, and the fund has over 900
active loans. CRISP also facilitates a sustained improvement in access to credit by micro and small enterprises operating in the informal sector. CARE has played a key role in program design and inception of the communitybanking project of the Commercial Bank of Zimbabwe (CBZ), currently trading as Jewel Bank of Zimbabwe. The
project aims to achieve a sustained improvement in access to credit by micro and small enterprises operating in the
informal sector, especially those owned by women. Through the establishment of a community-banking unit, CBZ
has been able to increase its portfolio by being the first in accessing a market that has remained virtually untapped.
One of CRISP's key components involves a loan guarantee fund provided by DFID over two phases (1995/2001 -
2002/2005). The project has made impressive strides, as demonstrated by its operational efficiency, operational selfsufficiency and portfolio quality, showing that of current 2,750 active clients, over 65 percent are women, that 1880 jobs have so far been sustained and 719 jobs created. To date four branches of CBZ have been established in Highfield, Chitungwiza, Bulawayo and Mutare and further expansion is planned for the near future. |
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