After a long history of political and economic instability, Bolivia’s economy is growing stronger. However, the country's mountainous geography of less than 3 percent arable land makes progress slow. Almost half of the population still lives below the poverty line and infant mortality rates continue to be the highest in Latin America. We have a long and successful history of work in Bolivia, and we continue working to expand access to financial services for small business owners in the country.
Accion’s work in Bolivia dates back to 1986, when Accion and Bolivian business leaders established a nonprofit microlending entity called PRODEM. Just a few years later, PRODEM had grown so large that it was outstripping the capacity of the local banking system to supply it with lending capital. In 1992, PRODEM joined with Accion, Calmeadow Foundation, Bolivian banks and other investors to establish BancoSol, the first private commercial bank in the world dedicated exclusively to microenterprise. Today BancoSol serves over 150,000 clients throughout Bolivia and is a leader in the industry. Through our close relationship with BancoSol, we continue to provide support in a variety of areas including, standardization and improvement of credit management and the introduction of new financial products.
Accion is supporting partner BancoSol with management and technical assistance services.
Learn more about our Microfinance Services >>