Grameen Foundation : Where we work : Latin America / Caribbean : Bolivia : FONDECO
FONDECO
Bolivia
| Status snapshot as of March 2008 | |
| Active clients | 8,638 |
| Loan portfolio (USD) | $6,858,767 |
| Portfolio At Risk >30 days* | 15% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
Fonde de Desarrollo Comunal (FONDECO) was originally the lending program of the Farmer Investigation and Promotion Center (CIPCA), an NGO established in 1991 by the Jesuit Order. Due to their specialization in lending and desire to expand geographically, FONDECO separated from CIPCA and became an independent Civil Association on October 12, 1995. FONDECO is based in Santa Cruz de la Sierra, the second largest city in Bolivia, and has 17 branches in 5 different regions. A leader in agricultural lending, FONDECO has been able to differentiate itself from its competitors through innovation. The Board of FONDECO is a strong believer in operating efficacy and in translating this efficiency into lower prices for the ultimate client; thus this organization has some of the lowest interest rates in the market.
Outreach:
FONDECO's target market consists of small farmers, micro-entrepreneurs and merchants. In general, the institution serves rural/semi-rural populations that traditionally do not have access to the formal financial system. Over half of FONDECO's clients are women and the majority of them belong to different indigenous ethnic groups (Quechuas, Aymaras, Guaranies).
Grameen Foundation support:
In light of Grameen Foundation's strategic plan, the Americas region annual plan included the addition of one seedbed partner in Bolivia during 2006. FONDECO's leadership in the rural agricultural lending sector made FONDECO a perfect fit for Grameen Foundation. FONDECO joined the Grameen Foundation network in December 2007, and received a $45,000 loan from Grameen Foundation to support its housing loan product.
Grameen Foundation : Where we work : Latin America / Caribbean : Bolivia : FONDECO
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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