Promoting Inclusive Markets and Financial Systems
Pro Mujer Inc. was created in Peru at the end of 1999 and began micro credit operations using the communal banking technology on April 17, 2000. Since then it has served more than 35,000 clients, almost exclusively women (99.9%). In Peru, ProMujer is the second largest non regulated MFI in terms of number of clients. What makes Pro Mujer unique is the integral nature of the services it offers to its clientele which cover financial services– with a range of five different products – to non financial services that include preventative health training and business development, which are offered in a direct manner, and health services and technical advice that are provided through strategic alliances with specialized providers. The institution seeks to reach women with limited resources in urban zones, peri-urban zones and, to a lesser extent, in the rural parts of the cities where it intervenes. It carried out a study of social indicators in 2005 with the support of CGAP which indicated that 35% of households of new clients were very poor compared to 25% of the households of longstanding clients. According to the study, new clients live on US $1.26 per day compared with longstanding clients of Pro Mujer who survive on US $1.50 a day.