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Title:The role of credit in development projects: the credit union movement in Togo
Author:Almeyda De Stemper, G.
Periodical:African Review of Money, Finance and Banking - Supplement to 'Savings and Development'
Geographic term:Togo
Subjects:credit cooperatives
Abstract:Credit unions are member owned and operated financial cooperatives. The author outlines the development of Togolese credit unions and describes the type of credit provided in order to analyse the role of credit unions in the formation of self-sustained and viable financial intermediaries in Africa. After presenting the major criticisms made of credit programmes in developing countries and introducing the institutional development approach of credit unions, the author describes the nature of credit within credit unions, analyses the differences between the credit services provided by credit unions and those of other financial institutions, identifies credit unions' use of external funds, and concludes that data from Togo suggest that credit unions have successfully mobilized local savings and created a fund from which members can borrow for both consumption and production. External technical and financial assistance for institutional development, and not credit programmes, plays a crucial role in the formation of viable and self-sustained financial intermediaries. Notes, ref., sum. in French.