Grameen Foundation : Where we work : Latin America / Caribbean : Mexico
Mexico
The Need in Mexico
Mexico, Latin America’s second most populous country, faces serious poverty and income issues with nearly 4.7 million people living on less than $1 a day. While one of the largest economies in the region, microfinance has only recently begun to make inroads in Mexico, and outreach is still limited. The supply of microcredit is estimated to be less than eight percent of demand.
Following the election of Vicente Fox, who had received support from Grameen Bank founder Dr. Muhammad Yunus to start a microfinance program in the state where he had been Governor, microfinance began to grow from its very low levels of outreach. A special office was set up in the President’s office to support the expansion of the sector. Compartamos, which had received training in Bangladesh at the Grameen Bank early in its history, added hundreds of thousands of clients and others launched expansion plans as well.
Our partner microfinance institutions in Mexico:
Mexico success stories: Esmerelda and Adela
Grameen Foundation : Where we work : Latin America / Caribbean : Mexico
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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