USAID CATALYZE: Twelve 2024 Highlights Across Twelve Activities
Over the last 12 months, USAID CATALYZE has reached new heights in our effort to create scalable and sustainable solutions to development challenges — from transforming the way that small- and medium-sized enterprises (SMEs) in emerging economies access capital, to bridging the credit gap for agricultural sectors in the Sahel, and further expanding access to financing to improve education access and quality. The results tell the story: In fiscal year 2024, CATALYZE successfully mobilized $242M in private capital for 68,908 entities, bringing CATALYZE’s total private capital mobilized since project inception to $616.6M for 119,621 entities across 45 countries.
In 2024, CATALYZE reached record numbers of non-state schools (1,986) and students (over 800,000) across Africa, Latin America, and the Caribbean (LAC), and celebrated the transformative impact of four recently concluded Activities: Finance for Resilience (F4R), Engines of Growth (EoG), and EduFinance LAC and Democratic Republic of Congo (DRC).
As 2024 draws to a close, we are thrilled to share some of our top highlights from the year — from new digital finance products and trainings to support women-owned SMEs, to innovative pay-for-results models, and new partnerships to support youth employment and workforce development.
JANUARY
In January, the USAID CATALYZE Market Systems for Growth (MS4G) team, in partnership with Marketlinks, hosted a webinar that explored new paths for emerging local private sector partners to engage with USAID. Speakers delved into the challenges and successes that MS4G experienced during the co-creation process, from solicitation to award process of USAID grants, and in ensuring that risks, resources, rewards, and responsibilities were shared by both USAID and the private sector. This approach has been a part of CATALYZE’s vision to spur the sustainability of SMEs in serving their markets and becoming profitable beyond the life of the project.
FEBRUARY
In February, the USAID CATALYZE Asia Social Protection (ASP) Philippines Activity held its first Activity workshop in the Philippines. The two-day ideation workshop, which brought together 57 participants who work in the private sector, government, and youth community, focused on how ASP can promote sustainable employment for young adults while improving their health outcomes.
MARCH
In March, the USAID CATALYZE Private Sector Development (PSD) Activity supported an outbound visit of Sri Lankan Female Founders to Singapore, organized by its partner (Investment Advisory Service Provider) Hatch and the Singapore Sri Lanka Business Association. The founders pitched to a judging panel from the Singapore Startup Ecosystem, and winners were awarded an SGD 5,000 cash prize. The initiative, which was strategically aligned with International Women’s Month, aimed to tackle the underrepresentation of female and ethnic minority-founded businesses in venture capital funding.
APRIL
In April, the USAID CATALYZE Education portfolio attended USAID’s flagship event, the Global Education Conference 2024 (GEC 2024), which convened USAID Missions, USAID education leadership and managers, and implementing partners to share impacts and learnings across USAID’s Education portfolio. CATALYZE panelists included existing USAID Mission partners from both CATALYZE EduFinance and CATALYZE Together for Early Childhood Evidence (T4ECE) activities in Africa, as well as local and global leaders and advocates in non-state blended finance. CATALYZE also participated in a USAID-organized panel that included the World Bank and the Brookings Institute.
MAY
As part of the Americas Partnership for Economic Prosperity (APEP) initiative, USAID CATALYZE’s multi-year accelerator promotes the inclusive growth of social impact startup enterprises across Latin America and the Caribbean (LAC), leading to improved socioeconomic and climate impacts, employment, and productivity. National Security Advisor Jake Sullivan highlighted the importance of the APEP initiative at a speech delivered at the Washington Conference on the Americas on May 7th.
Over the last 12 months, APEP’s Kinesis program has strengthened the capacities of 155 social enterprises across the LAC region. Participating enterprises took part in a multi-week program to develop sustainable business models, identify market growth opportunities, and build their investment-readiness. Over 90 percent of these enterprises reported improvements in their data management, allowing them to make better strategic business decisions, while 70 percent have begun conversations with potential market and financial partners through the program’s facilitation. Graduates also noted impact measurement as one of their top areas of improvement, demonstrating Kinesis’ focus as a program aimed at unlocking the impact potential of its participants. Through its accelerated enterprises, Kinesis has managed to impact over 60,000 new beneficiaries.
JUNE
Despite the growing potential of Sri Lanka’s tech sector, local startups face challenges attracting global investment due to market limitations and a lack of affordable advisory services. Thanks to the support of the CATALYZE Private Sector Development (PSD) Activity, Sri Lankan women-led tech firm BoardPAC secured its first equity investment from a US-based venture capital fund in June, which was announced at the DigiEcon Global Investment Summit.
JULY
In July, the National Bank of Iraq partnered with the USAID CATALYZE Iraq Access to Finance (A2F) Activity to provide $1,650,000 in financing to SMEs in Iraq. The partnership represents a pivotal step toward driving private investment, enhancing private sector competitiveness, and alleviating youth unemployment; ultimately contributing to economic growth, stability, and prosperity in Iraq.
Thanks to this partnership, Baghdad-based pharmacy owner Farah Abood secured a US $60,000 loan that allowed her to purchase high demand chronic disease medications for conditions such as diabetes and heart disease, which were previously scarce in her pharmacy. This investment allowed her to not only meet customer demand but solidify her market position by retaining and growing her clientele. As a result, Ataar Al-Farah Pharmacy’s monthly revenue is expected to increase by up to three percent and has become more competitive in the local market.
AUGUST
USAID CATALYZE Asia Social Protection (ASP) Indonesia is working toward achieving universal healthcare coverage for women and other vulnerable groups that work in the informal sector. In August, ASP Indonesia held its kick-off event in Tasikmalaya to outline its efforts to increase active participation in Jaminan Kesehatan Nasional (JKN) — Indonesia’s national healthcare scheme — through blended financing strategies and comprehensive socialization.
SEPTEMBER
In partnership with Albanian microfinance institution NOA, the USAID CATALYZE Engines of Growth (EoG) Activity designed the Footwear and Apparel Loan Product (FALP) to meet the needs of SMEs in Albania’s leather and textile industry. From its launch in 2020 through September 2024, FALP successfully injected $2 million into the sector, protecting dozens of companies from potential bankruptcy by allowing them to upgrade their production lines, guard staff costs and meet contractual export obligations. Throughout the life of the Activity, EoG has unlocked $200 million in financing for more than 2,000 SMEs, 86 percent of which were previously unable to access finance.
OCTOBER
In October, the USAID CATALYZE Women Building Resilience (WBR) Activity celebrated the graduation of 100 women entrepreneurs from a 55-hour training program designed to enhance their business management, finance, and digital skills. The training program also includes personalized coaching to access finance through the newly developed “Mujer Integral” financing product. To date, 35 women entrepreneurs have accessed $473,503 in financing through this product, which provides flexible options and reduces the key barriers of collateral and prior credit experiences that are typically required to access finance.
NOVEMBER
In November, the USAID CATALYZE Finance for Resilience (F4R) Activity held its end-of-project closeout event in Ouagadougou, Burkina Faso. The event, which was attended by over 100 F4R partners and stakeholders, highlighted the impact achieved throughout the life of the Activity (2020–2024): $22.3 million mobilized in private capital — a 1:11 return on every US dollar spent — and 1,875 agricultural and youth-led micro-, small-, and medium-sized enterprises (MSMEs) supported through access to affordable financing across specific intervention zones and in target value chains in Burkina Faso and Niger.
DECEMBER
On December 11th, CATALYZE EduFinance LAC hosted its close-out webinar, which explored how the Activity has driven impact across Latin America and the Caribbean by advancing education through innovative financing models. Specifically, the webinar showcased how technical assistance to financial institutions in Guatemala and the Dominican Republic has expanded access to financing for school owners and parents, and how the self-sustaining school model has helped schools to achieve financial independence in Paraguay and El Salvador.
