Ambassador McCulley Inaugurates Savings Bank in Kidal, March 23, 2007

On the margins of the March 23 – 24, 2007 Kidal Forum for Development in the North of Mali, U.S. Ambassador to Mali Terence McCulley inaugurated the “Caisse ADAGH Finances de Kidal.”  The Caisse ADAGH Finances de Kidal is a savings and credit bank which is part of the Mali Finance national action plan for providing access to micro-finance in Mali.  Mali Finance is financed by USAID Mali to contribute to strengthening credit and savings mechanisms in the north of Mali, particularly Gao, Ansongo and Kidal.  In addition to equipment support valued at over $30,000, the Caisse ADAGH Finances de Kidal benefited from a variety of capacity-building training by Mali Finance.  The Government of Luxembough is also a partner in this project, and contributed roughly $20,000 which will serve as a guarantee fund for loans to women and youth groups for income-generating activities.