Micro Financing Companies Lending Less in Guatemala
In the first three months of the year, micro financing companies lent $80 million, 12.5% less than the same period of 2008.
Wednesday, July 15, 2009
The Central American Micro Financing Network, known is Spanish as Redcamif, is worried by the figure, because credit growth from 2005 onwards averaged 34%.
An agreement between international organizations will provide up to $250 million in loans for Latin America's micro-financing entities.
Between 2010 and 2011 the microfinance portfolio increased by 23%, going from $84 million to $104 million, averaging $529 per loan.
Analysis of the region's micro-financing industry in the past three years, plus the effects caused by local and global crisis in 2008.
Delinquency is over 10%, the client portfolio is stagnant, and credits have grown just 5%.
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