Fondo de Desarrollo Local
BIO has granted USD 35 K of technical assistance to Financiera FDL, a Nicaraguan microfinance institution.
Amount
$ 35,485.00
Type of investment
Subsidy
Beneficiary locations
Investment field
Financial Institutions
Activity
FDL is a leading MFI in Nicaragua with 22% of market share.
The institution was created in 1997 with a focus on micro and small enterprises in rural areas. It is a non-deposit-taking institution offering credit, insurance, and payment services to more than 45,500 clients (49% women) with an average loan size of USD1,250.
FDL has been BIO’s client since 2013, supporting the institution with two loans with the objective to finance its loan portfolio growth, first, as an NGO and second, in 2016 during its transformation into a regulated institution as a Financiera.
Technical assistance
The technical assistance aims to help establish a change management strategy and a culture for the adoption of the changes that will accompany the digital transformation.
Expected impact
Increase the satisfaction of clients and the efficiency of the institution, both in administration and service management, which will lead to an increase in business volume, a greater efficiency and a reduction of operating costs. The initiative aims at a high institutional culture impact:
- Resistance to change is reduced
- Level of adoption of the changes increases in people
- Level of commitment increases
- Agile methodologies are adopted for project management
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Financial Institutions
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Debt
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Equity
