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There’s no crisis for microcredit in Latin America
25% –that’s the growth rate recorded overall by Microfinance Institutions in South America and the Caribbean in 2010. The current total amount of credit is US$ 15.2 billion, compared with 12.3 billion the previous year. These figures were revealed by an agency of the Inter-American Development Agency during the 14th Foromic, the regional forum for microenterprises, held this year in Costa Rica from 10th to 12th October.
“Microfinance impacts roughly one potential customer out of six in Latin America and the Caribbean,” say the authors of the study. However, situations vary widely. In those countries having “the greatest experience of microfinance, such as Bolivia and Salvador, up to one potential customer out of three is served.” This penetration rate drops to one out of twenty in certain countries like Argentina or Venezuela.