The ABC Fund is announcing today that it is investing USD 4.7 million in Centro de Investigación y Desarrollo Regional (CIDRE IFD), a microfinance institution providing financial support to smallholder farmers in Bolivia.
CIDRE IFD is a microfinance institution which provides financial solutions helping to improve the lives of thousands of farmers and their families in rural Bolivia. It has more than 40 years’ experience with microcredit and commercial loans, reaching more than 20,000 clients across Bolivia through 30 branches. This distribution enables CIDRE IFD to serve almost 80% of municipalities in Bolivia.
With the financing from the ABC Fund, CIDRE IFD is expecting to grow its loan portfolio in rural areas by around 800 loan operations. It also provides a solid capital base to catalyze up to USD 35 million of additional loan portfolio growth, which could mean up to 8.000 additional loans in the coming 5 years.
This follows Fund investments in Burkina Faso, Benin, Ghana, Mali and Côte d’Ivoire, Kenya, Uganda and Ecuador.