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Press release
March 5, 2020
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FinDev Canada partners with Développement international Desjardins to support microfinance institutions in Latin America

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The partnership will help support microlending programs that will benefit rural communities in Latin America.

Summary of Anticipated Development Impacts

Market development

  • Supporting quality employment: Local market development has been at the core of DID’s objectives for the last 50 years. The two institutions provide approximately 1,500 jobs in Colombia and Ecuador. Many of these employment opportunities are for individuals living in underserved rural areas. 
  • Financial inclusion and economic value addition: The two institutions financed by DID in Colombia and Ecuador generate direct local value added through taxes, salaries and profits of more than US $12 M. They contribute to sector development through their focus on low-income customers, who are the most likely to be financially excluded or have limited access to quality financial services. 

Women’s economic empowerment

  • Empowering women in governance, leadership and employment: Equality between women and men is part of the fundamental development values at DID. They actively encourage women’s participation in the sustainable economic development of communities, as both actors and decision makers and on an equal footing with men. The company has issued a “Reference Framework on Gender Equality” which outlines its position and approach to integrating gender equality into all DID programs. 
  • Financial inclusion of women in marginalized communities: The two institutions financed by DID in Colombia and Ecuador strive to contribute to the reduction of inequalities between women and men regarding access to financial resources. They serve close to 150,000 clients, the majority of whom are women (50% of the client’s base in Colombia and 70% of the Ecuador institutions’ client base). In an effort to familiarize their clients with their financial offerings, the DID facility also offers financial literacy services for both women and men.