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Responsible Finance Program in Colombia Image

Responsible Finance Program in Colombia

Responsible Finance Program in Colombia

Although the microfinance industry in Colombia has been operating for more than 40 years, the market is still largely underdeveloped. The Colombian Central Bank estimates a potential market of 10.4 million customers, which far exceeds the current customer base at 2.4 million. As the industry grows, new challenges are arising, such as the need for a comprehensive regulatory framework for the industry.

This program aims to strengthen the institutional capacity of the Colombian Association of Financial Institutions - Asomicrofinanzas, as a means to increase transparency and promote growth of a local, pro-poor, inclusive microfinance sector. This initiative is supported by the Citi Foundation.


Program Partner

ASOMICROFINANZAS, the Colombian Association of Microfinance Institutions

 

AsomicrofinanzasFounded in 2009, Asomicrofinanzas promotes financial inclusion in Colombia through active participation in the definition of a coherent policy framework and by providing valuable tools and services to institutions offering financial services to traditionally excluded populations in Colombia.

Asomicrofinanzas represents 34 microfinance providers, with a microcredit portfolio of 9.59 billion Colombian pesos, equivalent to 99.5 % of all microcredit activity in the country.

 

"Como Presidente Ejecutiva de Asomicrofinanzas, quiero agradecer el apoyo en el proyecto aprobado para el gremio a través del cual esperamos impulsar y fortalecer el área de investigaciones para convertirla en un centro de pensamiento para las microfinanzas en Colombia.

El apoyo para el diagnóstico y el desarrollo de una propuesta para diseño un marco regulatorio especial de microfinanzas para las zonas rurales colombianas es de vital importancia para Colombia."
"As Executive Chair of Asomicrofinanzas, I would like to acknowledge the support for the approved initiative for the association, through which we hope to encourage and strengthen the field of research, and become a thought center for microfinance in Colombia.

Support for the evaluation and the development of a proposal to design a special regulatory framework for rural Colombian microfinance is of vital importance for the country."
-Maria Clara Hoyos, Executive Chair of Asomicrofinanzas

Read more about Asomicrofinanzas on their website >>


Methodology

Derived from a holistic understanding of organizational development and adapted to the needs and interests of Asomicrofinanzas, the program methodology has three complementary components:

  • Institutional strengthening of Asomicrofinanzas to provide high-quality, demand-driven and sustainable services;
  • Developing transparent and favorable operating environment that promotes responsible finance; and
  • Facilitating knowledge exchange and peer learning opportunities for Asomicrofinanzas.

The methodology for the Responsible Finance Program in Colombia is based on the model developed by the SEEP Network during the Citi Network Strengthening Program, conducted between November 2007 and December 2010, and currently employed in the Brazil Network Strengthening Program.


Download the Program Overview

To download a one-page printable program overview, please select your preferred version below: Para descargar un documento informativo (de una página) que se puede imprimir, por favor escoja su versión preferida:
Colombia_overview Colombia_informa
English Español

 

 

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