Following USAID’s approval, PRIME under IR3, has signed a sub-award agreement with Afar Micro Finance Institute (MFI) to provide a cost sharing grant that is aimed at improving the core financial service of the MFI. The financial support will be used for activities such as opening four new branches in PRIME operational areas, linking branches with core banking solutions, and building the capacity of the management and board of directors of the MFI.By signing this substantial sub-award agreement, PRIME increases access to inclusive financial services in Afar region for businesses and thousands of households. Afar MFI is the first MFI in the region which is supported by PRIME for its establishment under the fund obtained from USAID Islamic financial service cost extension grant.

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