FAO launches portal on rural finance

UN Food and Agriculture Organisation has created a new Internet portal that provides access to a large variety of information and online training materials related to rural finance.

Launching the rural finance learning centre on Thursday, FAO said it will considerably improve the flow of information on best practices in rural finance and relevant training materials to those who are working directly with rural communities.

"The challenges in rural areas are characterised by long distances, poor infrastructure, highly seasonal incomes and widespread poverty. Rural finance is about providing a range of financial services for people in these areas, including savings accounts, loans, insurance products and money transfers," said Geoffrey Mrema, director of the agricultural support systems division of FAO.

The learning centre was launched to mark the start of the 'International Year of Microcredit 2005'. The learning centre is one of many FAO activities that promote good rural finance practices and policies during the 'International Year of Microcredit'.

The internet-based global learning centre is a joint effort initiated by FAO with co-funding from the International Fund for Agricultural Development, the German Technical Cooperation and the World Bank.