Colombia is home to some of the most innovative forces in the microfinance industry. While this country's economy has improved significantly over the past several years, close to half of the population still lives below the poverty line. This, combined with the fact that a large portion of the population is employed in the informal sector, makes the expansion of access to financial services critically important for the economic development of the country.
Accion was a key partner in launching microcredit in the Colombian capital of Bogota in 1988 along with partner Finamérica (previously Finansol). Through a close partnership, Accion and Finamérica have developed a sound credit methodology as well as a strong products and services portfolio that drastically improved Finamérica’s financial health and market presence.
We have also worked closely the Fundación Mario Santo Domingo (FMSD) to offer "Dialogue on Business," our signature business training program for microentrepreneurs, and jointly established Centro de Formación Empresarial (CFE), an official microenterprise training center in Bogota. Accion has also supported the development of FMSD’s principal credit methodology: the solidarity group lending model.
We work in a variety of areas in Colombia:
Accion is supporting partners Finamérica and Fundación Mario Santo Domingo with management and technical assistance services, investments and strategic direction.
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We have delivered our award-winning 'Dialogue on Business' training program to more than 450,000 microentrepreneurs in Colombia and beyond. We have also parterned with the Fundación Mario Santo Domingo to establish the Centro de Formación Empresarial (CFE), an official microenterprise training center in Bogota.
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