IDB Fund to support Argentine microfinance industry

05 Feb '08

2 min read

The Multilateral Investment Fund of the Inter-American Development Bank announced the approval of a nonreimbursable technical cooperation of US$603,015 to Argentina to support the growth of the microfinance industry.

The Funds will enable the development of training and technical assistance programs for Argentine microfinance institutions in all segments, they will also be used to create opportunities for dialogue and dissemination among sector institutions and conduct studies to detect unmet demand for training among microfinance institutions.

The program will be executed by Fundación Andares, a nonprofit foundation working since 2006 to eliminate poverty and social exclusion by supporting the development of microfinance in Argentina. Part of the technical cooperation funds will go to strengthen Fundación Andares in its efforts to promote excellence in management and innovation in the Argentine microfinance sector.

Mrs. Susana García-Robles, Project Team Leader, "expects that the collaboration between MIF and Fundación Andares for the development of the microfinance industry in Argentina will create a demonstration effect that will serve as a catalyst for other investors to enter into this industry".

The MIF, an autonomous fund administered by the IDB, promotes development of micro- and small enterprises in Latin America and the Caribbean. It has supported the expansion and professionalization of microfinance in the region since its creation.

Inter-American Development Bank

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