Micro-finance is booming in Nicaragua

Micro-finance has grown rapidly in Nicaragua over the last decade. Between the end of 1999 and the end of last year, the total micro-credit portfolio grew at an average 19.4 percent a year, while the number of clients grew by 25 percent a year, according to industry statistics.

Monday, July 7, 2008

Most of the loans have been made to small farmers and artisans who are usually unable to borrow money from the commercial banks.

More on this topic

Lack of Capital in Microfinancers

April 2012

In Nicaragua, the ‘No Pago’ (Non Payment) movement has generated such distrust in international sources of finance that this year credit lines -which were $80 million-, have barely reached $5 million.

MFIs received less than $5 million in the first quarter of 2012 from international lending institutions, which directly affects their ability to offer more microloans, said Alfredo Alaniz, executive director of the Association of Microfinance Institutions (ASOMIF).

Boost for Microfinancers in Panama

November 2011

The BBVA Foundation and AMPYME have agree to the first private-public partnership for microfinancers in Panama.

The Microfinance Foundation of the Spanish bank BBVA has teamed up with the Authority for Micro, Small and Medium Enterprises in Panama to promote the use of financial products from these companies.

Nicaragua's Country Risk Affects Micro-financing

August 2010

The "No Payment" movement is scaring US and European investors, threatening the arrival of $70 million worth of funds for micro finance companies.

"In the last Central American Microfinance Conference the challenges and opportunities faced by the sector were discussed and the Guatemalan moderator, Reynold Walter, concluded by highlighting that governments should discourage 'no payment' movements, which received a round of applause from the attendees.

Nicaragua's micro-credit firms so "no" to lower rates

July 2008

The executive director of the Association of Micro-Finance Institutions (Asomif) says it's impossible to lower interest rates to 8 percent and lengthen repayment times for small loans.

Alfredo Alaniz was replying to a proposal from a group of debtors in the Jalapa region after a riot that resulted in injuries and property damage from frustrated borrowers who failed to get more generous terms for their loans.

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