MoFAD

The Mofad (“benefit” in Dari) project (previously known as EIWA—Economic Independence for Women of Afghanistan) aims to enhance the economic security of households in targeted communities in Kabul City through savings and credit groups and the establishment MFI (Micro Finance Agency for Development) targeting vulnerable women.  As a savings-based microfinance program funded by World Bank, the Ministry of Rural Rehabilitation and Development (MRRD) and MISFA (Microfinance Investment and Support for Afghanistan), Mofad’s approach of starting with savings to finance women’s enterprises before providing external credit is unique in the current market and helps empower groups of women and teach them the importance of raising capital.  In the past year, Mofad supported over 13,000 women in16 districts of Kabul by establishing 509 Savings and Credit Groups and distributing over $2 million to implement 1,780 business plans.