• Burundi
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  • Access to Finance
  • VSLAS (Village Saving & Loan Associations)
In Burundi, the AVEC approach (Associations Villageoises d'Epargnes et de Crédits in French known as VSLAs (Village Savings and Loans Associations in English) was inspired by the traditional practice of tontines. This approach allows the accumulation of funds , gives interest on savings, and allows access to credit to several members at the same time.

The AVEC puts an emphasis on the organizational and democratic development of an association, which the tontine does not normally do. It is an approach that is appreciated in the country and the Government of Burundi in collaboration with CARE International has decided to make it a National approach because it is adapted to the local context and to the different projects according to the objectives of the members.

The village savings and credit system is based on a basic principle: a VSLA savings and credit group, and is formed by members who decide on their own to get together to save their money in the form of shares. . This savings is collected in a credit fund which allows them to borrow sums which they repay and to which interest is added. A AVEC group is made up of 15 to 30 members.