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Agricultural development --- Economic growth --- Economic growth --- Cooperative credit --- Cooperative credit --- Credit policies --- Credit policies --- Mali --- Mali

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farms --- Credit policies --- farmers --- Agricultural credit --- debt --- France

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Professional associations --- Professional associations --- Sustainable development --- Sustainable development --- socioeconomic organization --- socioeconomic organization --- financing --- financing --- Credit policies --- Credit policies --- Benin. --- Benin

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Agroindustrial sector --- Agroindustrial sector --- small enterprises --- small enterprises --- management. --- management --- investment --- investment --- Credit policies --- Credit policies --- Labour mobility --- Labour mobility --- Diversification --- Diversification --- socioeconomic environment --- socioeconomic environment --- Burundi --- Burundi

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During these twenty last years, the microfinance was illustrated like a promising tool in the fight against poverty and social exclusion. From various successes which it has met in many under-developed countries, the Togolese state, in agreement with the World Bank, chose the microfinance like financial system in rural area. This study undertaken in the south-eastern part of Togo would like to update the various mechanism of this tool, the various activities financed, the effects on these activities, the effects on the populations and the development in the rural area. The strategy of different institutions of the zone of study was analyzed, the effects on beneficiaries and non-beneficiaries are compared. In the urban area the essential activities of microfinance institutions are developed around the commercial sector and the social objects. The result in rural area show the same tendency. The study highlighted the opposition of some microfinance institutions to finance agriculture whereas it represents the most important rural activity in this area. Trade followed by social objects mobilize the large majority of loan granted by the microfinance institutions studied. The effects on trade activities and the generated income are positive and significant. On welfare, the impact is positive for tradesmen and employees. But, the effects are not very significant on the other activities like farming and handicraft. Also, the impact on these people are not very significant. According to the specificity of the rural area, the study has wanted to highlight the direct or indirect effects of microfinance on the traditional organizations of the area and on the development. The introduction of the microfinance, did strongly not upset traditional practices in this area in term of financial practices. The informal system like "tontine" always exists and is more and more modernized. On the other hand, the influence of usurers decreased. Thus, the effect are positive or negative a ccording to the case and the socio-economic situation of the people concerned. It appears ultimately that in rural area, it would be firstly necessary to always update the mechanisms of intervention of the microfinance institutions with the specificity of the target people. Secondarily, the institutions should concretely specify their objectives, the target people and their strategies to use in order to reach them. The study identifies some ways which could be explored by the microfinance workers for achieving the objective that the authorities wanted to assign to it : to solve the problem of rural credit in general and agricultural credit in particular. The first part of this work presents the various financial sectors which exist before appearance of the microfinance. The service and products of the microfinance and the synthesis of few impact studies carried out in the world were also approached in this part. The genesis of the rural credit in Togo and its evolution until the microf inance, were presented in the second part. The study in its third part notices the link between rural development and poverty, and shows how the different policies of development executed in Togo led to the continuous impoverishment of the rural people. The last part shows the methodology adopted for this research, the effect of microfinance on the activities, the impact on populations and on development.

insurance --- credit. --- credit --- Credit policies --- Savings --- agriculture. --- Trade. --- Trade --- Handicrafts --- Sustainable development --- Rural population --- Poverty --- Togo