According to a report published by Visión Económica, a Colombian economic research institute, the value of microcredit disbursements in the country has risen from COP 2.29 billion (USD 1.12 million) in 2007 to COP 3.5 billion (USD 1.74 million) in 2011, at an annual growth rate of 15 percent. From 2007 to 2010, the number of borrowers grew from 1.68 million to 2.47 million, and it is expected that another 1 million people will become microcredit users by 2013.
The report states that approximately 1.2 million micro- and small-sized enterprises (MSEs) in the country account for 96 percent of all companies in Colombia, and serve as the major driver of credit demand. Nongovernmental organizations, commercial banks, cooperatives and credit unions have expanded their microcredit portfolios from approximately COP 4.5 billion (USD 2 million) in 2008 to COP 6.1 billion (USD 3 million) at the end of 2010.
As of 2010, 27 Colombian MFIs reported to the US-based nonprofit Microfinance Information Exchange (MIX), serving approximately 1.49 million active borrowers and an aggregate gross loan portfolio of USD 2 billion.
By Rohan Trivedi, Research Associate
Sources and Additional Resources:
[1] Visión Económica: “Microcrédito en Colombia”, http://www.visioneconomica.com/anexo/perfiles2/d1a_Microcredito_08_2011.pdf
MicroCapital.org story, May 24, 2011: “MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Makes $3m Debt Investment in Fondo de Capital Privado Inversor of Colombia to Support Small and Medium-Sized Enterprises (SMEs) That Serve Poor People”, https://www.microcapital.org/microcapital-brief-multilateral-investment-fund-mif-makes-3m-debt-investment-in-fondo-de-capital-privado-inversor-of-colombia-to-support-small-and-medium-sized-enterprises-smes-that-serve-poor-p/
MicroCapital.org story, October 22, 2010: “MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and Inter-American Development Bank’s Multilateral Investment Fund Release ‘2010 Microfinance Americas: The Top 100”, https://www.microcapital.org/microcapital-brief-microfinance-information-exchange-mix-and-inter-american-development-banks-multilateral-investment-fund-release-“2010-microfinance-americas-the-top-100”/
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