In Colombia, DID has introduced a new initiative to build the capacity of a group of financial institutions to better meet the needs of entrepreneurs—both men and women—who want more sophisticated services than microfinance institutions can provide, but who don’t satisfy the criteria imposed by traditional commercial banks.
This is the upscaling lending approach used by microfinance institutions that are currently lending to individuals and are keen to expand their service offer by granting larger loans to entrepreneurs, to better serve this segment that creates jobs and supports development.
Within each of these institutions, DID will support the creation of a specialized financing unit for micro, small and medium-sized businesses. To achieve this, DID will draw on the methods and operational experience it has acquired through its many initiatives, including change management and establishing entrepreneur financial centres.
DID will be implementing specific measures together with its partners to ensure that
- women can take advantage of available services, and take their rightful place in the local economy
- the staff and management of participating financial institutions are aware of environmental challenges and that clients are advised by loan officers about the environmental impact of their projects
This initiative is carried out with the financial support of Global Affairs Canada.