Question 1

What is Diaconía FRIF-IFD?

Accepted Answer

Diaconía FRIF-IFD (Diaconía Fondo Rotativo de Inversión y Fomento - Institución Financiera de Desarrollo) is a Bolivian microfinance institution with Christian principles dedicated to promoting financial inclusion for vulnerable populations. With over 30 years of service in Bolivia, Diaconía operates as a regulated financial development institution focusing on microenterprise financing, housing loans, and banking services for underserved communities. The institution serves more than 72,000 clients, with 72% being women, and maintains a loan portfolio of approximately $200 million. Diaconía employs over 780 staff members and operates through a network of 64 branches nationwide.

Question 2

When was Diaconía FRIF-IFD founded?

Accepted Answer

Diaconía was founded on May 17, 1991, as a cooperation project through Mission Alliance of Norway in Bolivia. Initially established to provide financial services to the Ismaili community and vulnerable populations, Diaconía obtained its legal status (personería jurídica) in 1998. The institution received its official operating license from the Autoridad de Supervisión del Sistema Financiero (ASFI) in 2016, becoming a regulated financial institution.

In 2020, ASFI authorized Diaconía to accept deposits from the public, marking a significant milestone in its evolution from a community-based finance organization to a comprehensive financial development institution. This authorization enabled Diaconía to offer savings products including fixed deposits and savings accounts.

Question 3

Where is Diaconía FRIF-IFD headquartered?

Accepted Answer

Diaconía FRIF-IFD is headquartered in La Paz, Bolivia. The institution maintains its primary administrative offices in the capital city while operating an extensive branch network across Bolivia. The headquarters coordinates strategic planning, risk management, and oversight for operations throughout the country.

Question 4

Where does Diaconía FRIF-IFD operate?

Accepted Answer

Diaconía operates throughout Bolivia with a strong presence in both urban and rural areas. The institution has 64 branches distributed across the Altiplano region (western highlands), the Valleys region (central Bolivia), and the Oriente region (eastern lowlands). The institution has concentrated operations in the Altiplano region and is actively expanding its geographic footprint in the eastern Amazon and lowland areas. Diaconía specifically targets rural communities, suburban neighborhoods, and underserved urban areas where traditional banking services are limited or unavailable.

Question 5

What services does Diaconía FRIF-IFD offer?

Accepted Answer

Diaconía provides a comprehensive range of microfinance and banking services tailored to low-income populations and small entrepreneurs. Credit products include individual microloans, communal bank (banco comunal) loans, housing finance, and the innovative EcoVerde credit line which finances sustainable agricultural practices and climate change adaptation projects.

Savings products include the DPF Diaconía fixed deposits with competitive interest rates, the "Cuenta Conmigo" savings account accessible through digital platforms, and regular savings accounts (cajas de ahorro). The institution offers remittance services for national and international money transfers, currency exchange, bill payment services, and giros (money orders).

Diaconía distinguishes itself through its DesarrollaRSE program, a social innovation tool based on the poverty elimination stoplight methodology that uses 50 indicators to assess clients' quality of life, identify needs, and create personalized improvement plans. The institution provides financial education programs, mentoring services, and business development support. In 2024, Diaconía capacitated 51,351 people in financial literacy and secured 10 million Bolivianos in green financing from the Banco de Desarrollo Productivo's "Green Window" to expand sustainable lending.

Question 6

What makes Diaconía FRIF-IFD unique?

Accepted Answer

Diaconía stands out for its mission-driven approach combining financial services with social development. Founded on Christian principles of sharing faith, combating poverty, and promoting justice, the institution maintains strong values of service, honesty, commitment, and respect. The DesarrollaRSE methodology is particularly innovative, measuring poverty across multiple dimensions and demonstrating measurable impact—reducing poverty indicators among banco comunal clients from 34% to 24%.

The institution's commitment to environmental sustainability through EcoVerde green credits addresses climate change challenges while supporting small agricultural producers. In 2024, over 3,185 agricultural producers improved their incomes and sustainable practices through this program. Diaconía became a participant in the UN Global Compact in June 2024, formalizing its commitment to environmental, social, and governance principles. The institution is also a member of FINRURAL, the Bolivian microfinance network, and has ambitions to transform into a PyME Bank (small and medium enterprise bank) as part of forming a broader financial group.

Question 7

What type of financial institution is Diaconía FRIF-IFD?

Accepted Answer

Diaconía is an Institución Financiera de Desarrollo (IFD), which is a specialized category of regulated financial institution in Bolivia. IFDs are non-profit foundations or associations authorized to conduct financial intermediation activities specifically targeting microenterprises, rural economic organizations, and populations underserved by traditional banks. Unlike commercial banks, IFDs focus on financial inclusion and social development outcomes. Diaconía holds a full operating license from ASFI and is authorized to provide both credit and deposit-taking services. This regulatory framework allows Diaconía to offer integral financial solutions while maintaining its social mission and serving vulnerable populations that typically lack access to conventional banking services.

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About Diaconía FRIF-IFD in Bolivia