The Cooperative for Small Farmer Solidarity for Savings and Credit (French: Coopérative de Solidarité avec les Paysans pour l'Epargne et le Crédit), or COSPEC, is a microcredit bank in Burundi.
It collects local savings to support microcredit loans for income-generating peasant activities in Cibitoke Province.
[1] The six founding members of the Network of Microfinance Institutions in 2002 were the National Bank for Economic Development (BNDE), the Development Finance Company (COFIDE), the Cooperative Savings and Mutual Credit Fund (CECM), the Municipal Development Fund (Fonds de Développement Communal, FDC), Twitezimbere ASBL and the Peasants' Solidarity Savings and Credit Cooperative (COSPEC).
They wanted a framework to discuss their policies and strategies, to professionalize the sector and to establish a sustainable partnership system.
[2] COSPEC holds information sessions on the merits of a savings and credit cooperative, and encourages voluntary membership.