Financial Inclusion: Data and Trends

The microcredit portfolio in Latin America and the Caribbean is worth over $40 billion, is awarded by more than 1,000 institutions, and reaches more than 22 million customers.

Wednesday, November 5, 2014

From a statement issued by the Inter-American Development Bank (IDB):

A new report documents significant expansion of microcredit in Latin America and the Caribbean

GUAYAQUIL, Ecuador - Microcredit in Latin America and the Caribbean remains strong and continues its expansion of the last decade, experiencing an increase in their number of customers, a variety of institutions and a downward trend in interest rates according to new data released here today by the Multilateral Investment Fund (MIF), a member of the IDB Group.

According the report entitled Financial Inclusion in Latin America and the Caribbean: Data and Trends, information from the end of 2013 shows that the microcredit portfolio in the region amounts to more than $40 billion, is awarded by more than 1,000 institutions, and reaches more 22 million customers. This contrasts with figures for 2005, when the microcredit portfolio was worth $5.5 billion, provided by fewer than 400 institutions, only reaching six million customers. Today, microcredit is given both by banks, as well as cooperatives and NGOs.

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