Question 1

What is CRECER IFD?

Accepted Answer

CRECER IFD is a regulated microfinance institution (Institución Financiera de Desarrollo) in Bolivia specializing in financial services for women, rural communities, and small agricultural producers. Licensed by the Autoridad de Supervisión del Sistema Financiero (ASFI), CRECER is one of Bolivia's largest microfinance institutions with over 259,000 active clients.

The institution is authorized to capture public deposits through savings accounts and fixed-term deposits. As of December 2023, CRECER held total assets of approximately USD 43.4 million in savings and a gross loan portfolio of USD 424.5 million.

Question 2

When was CRECER IFD founded?

Accepted Answer

CRECER IFD was founded in 1999 with a mission to provide microfinance services to poverty-affected women in Bolivia. The institution began operations in the 1970s era of microfinance development in Latin America, specifically targeting poor women who lacked access to traditional banking services.

In 2008, CRECER was incorporated into the regulatory framework under Bolivia's Law of Banks and Financial Entities. The institution received its official "License of Operation as a Financial Development Institution" from ASFI, becoming one of nine IFDs authorized to operate in Bolivia's regulated financial system.

Question 3

Where is CRECER IFD headquartered?

Accepted Answer

CRECER IFD is headquartered in La Paz, Bolivia. The head office is located at Calle 23 de Calacoto, Torre Faith in La Paz.

The institution maintains regional operations across all nine departments of Bolivia through its extensive branch network.

Question 4

Where does CRECER IFD operate?

Accepted Answer

CRECER IFD operates throughout Bolivia with a comprehensive network of 73 branches (referred to as 749 locations in some reports including agencies) covering all nine departments of the country. The institution maintains strong coverage in both urban and rural areas, with approximately 42-43% of its active borrowers located in rural regions.

The institution specifically targets rural municipalities vulnerable to food insecurity and production corridors for key crops including potatoes, corn, rice, tomatoes, quinoa, and habas. As of December 2023, 56.1% of CRECER's clients were located in geographical zones with poverty levels above the national average.

Question 5

What services does CRECER IFD offer?

Accepted Answer

CRECER IFD provides comprehensive microfinance services including working capital loans, savings products (cajas de ahorro and fixed-term deposits), receivables advancements, and insurance services. The institution employs both individual lending and group lending methodologies, with its signature "Village Banking" (Banca Comunal) approach organizing borrowers into primarily female borrower groups.

Beyond financial services, CRECER offers extensive non-financial services including financial literacy training, digital literacy education, budgeting courses, nutrition education, and cancer prevention programs. The institution provides discounted health services focusing on cervical and uterine cancer prevention through health campaigns conducted in partnership with government institutions and medical providers.

As of December 2023, the institution invested approximately USD 1.34 million in client-focused activities and maintains an excellent portfolio quality with a portfolio at risk (>30 days) of just 1.1%. The average loan size is designed to align with the needs of micro-entrepreneurs and small producers.

Question 6

What makes CRECER IFD unique?

Accepted Answer

CRECER IFD is distinguished by its integrated approach combining financial services with health and education programs. The institution holds an AA social rating, one of the highest in Bolivia's microfinance sector, reflecting its exceptional commitment to social performance and mission achievement.

The institution demonstrates remarkable impact: 74% of clients are women, 54% of clients have no primary education, and 83% of clients are in rural areas or engaged in income-generating activities. A 2021 study found that 85% of clients reported improved quality of life, 77% reported increased income, and 83% reported enhanced financial planning abilities.

CRECER has secured significant international support, including a USD 5 million subordinated loan from the International Fund for Agricultural Development (IFAD) to expand its rural microfinance portfolio. The institution is expected to reach 65,000 additional beneficiaries through this partnership, with 100% of proceeds directed to the Bolivian food systems and people living below the national poverty line.

The institution is a partner in Global Partnerships' Women-Centered Finance initiatives and is a member of FINRURAL, the specialized microfinance organization grouping Bolivia's IFDs.

Question 7

What type of financial institution is CRECER IFD?

Accepted Answer

CRECER IFD is an Institución Financiera de Desarrollo (IFD), a specialized category of regulated financial institution in Bolivia designed to provide microfinance and development-oriented financial services. IFDs operate under Bolivia's Law No. 393 of Financial Services and are supervised by ASFI.

As a deposit-taking microfinance institution, CRECER functions as a regulated financial intermediary authorized to capture public deposits and provide comprehensive financial services primarily to underserved populations. The institution specializes in microfinance using both individual and group lending methodologies, with particular expertise in serving women, smallholder farmers, and rural communities who traditionally lack access to conventional banking services.

CRECER IFD

in Bolivia 🇧🇴

Crypto-Friendliness

All done!

About CRECER IFD in Bolivia