Microfinance in Latin America and the Caribbean
From the first experiments of providing tiny loans to poor women in the early 1970s, microfinance has grown to become a sophisticated industry. In Latin America and the Caribbean alone, some 600 microfinance institutions have lent around $12 billion to more than 10 million low-income clients.
The IDB has been a pioneer in promoting microfinance throughout the region. Over the past two decades its Multilateral Investment Fund (MIF) has underwritten the expansion of leading microfinance networks and fostered many of the innovations that enabled the development of this dynamic industry.
By the numbers
The total loan portfolio of more than 1000 microfinance institutions in Latin American and Caribbean, serving 20 million customers, rose to $40 billion at the end of 2012. More >>
The Committees of the Boards of Governors of the IDB and IIC back the need for a $300 million MIF replenishment. Oct 6, 2016
Access to diversified financial services is expanding and deepening in many parts of the world according to Global Microscope 2015. Dec 16, 2015