This article examines the ‘heifer-in-trust’ or ‘livestock-in-kind credit’ model through a social-protection lens. Specifically it seeks to engage with debates about the use of asset-based strategies to support graduation from social protection. Drawing on project experience with dairy goats in Ethiopia and dairy cattle in Tanzania, the article concludes that while the asset-ness of livestock may in principle allow them to make a unique contribution to livelihood transformation and thus graduation, the most obvious target group is least likely to be able to handle the demands and risks associated with livestock assets.
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