Microfinance involves supplying financial services and products to disadvantaged populations...
The micro-credits granted in Ecuador, averaging $717 (i.e. around 9% of GDP per capita), already support more than 50,000 clients, 72% of whom are women. Thanks to the “village banking”methodology, no guarantee is required.
This methodology has enabled FINCA to develop banking access throughout the country.
Finally, financial training is offered to reduce the risk of over-indebtedness and to underpin their customers'entrepreneurial businesses.
This new loan demonstrates the bank's strong commitment to fighting against exclusion in the world.
* Foundation for International Community Assistance
Every year since 2010, Convergences has been publishing the Microfinance Barometer, which...