BIO to support Bolivian microfinance institution CIDRE

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27.11.2012
BIO and CIDRE have agreed upon a Credit Facility Agreement amounting to USD 1.5 million. With the provision of this loan, BIO will enable a rural microfinance institution in Bolivia to expand its operations and reinforce its support to micro- and small enterprises. It will improve access to finance for unbanked rural entrepreneurs, while stimulating economic growth and generating jobs.

Currently operating as an NGO, CIDRE has 30 years of experience in granting small-scale loans to micro and small entrepreneurs in Bolivian rural areas. Today, the institution has achieved a portfolio of about 50% in agriculture and livestock. 

Over the years, CIDRE has developed a range of products tailored to the needs of rural entrepreneurs. Clients can benefit from flexibility in terms of repayment and from access to innovative system of guarantees and attractive interest rate.

CIDRE has 15 branches, mostly in the central and southern parts of Bolivia, and plans to expand country-wide by 2014. The institution serves over 6,100 clients of whom 65% are women. 90% of its active borrowers live and operate in rural areas.

CIDRE has been introduced to BIO by Incofin Investment Management in the frame of the cooperation agreement signed by both institutions early June 2012.

More information on CIDRE: http://www.cidre.org.bo/

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