CRECER | Development Finance Institution
CRECER is a Bolivian IFD (Development Finance Institution) with more than 20 years of experience, focused on offering financial products to improve the quality of life of women and their families. It is the second largest institution in Bolivia by number of clients and serves the poorest areas. It also offers free trainings in financial education, technology, and cervical cancer prevention. In 2021, Crecer will begin to offer savings products and short-term deposits.
Largest IFD in Bolivia, serving more than 222,000 clients all over the country, with a portfolio of EUR 266M, of which 19% is agri-focused. Crecer is present across Bolivia, with good coverage, especially in rural areas. Crecer measures its clients’ Poverty Probability Index annually, finding that 27% of their clients live on less than $2/day.
Although CRECER has an environmental policy in place, it has not yet developed the procedures for its implementation at the operational level. Huruma has included as a key recommendation the development of an environmental & social strategy that includes implementation, reporting & evaluation of environmental indicators, stablishing priority efforts for the institution.
Investment: EUR 5,1 milion
Type of investment: Senior unsecured debt
Technical assistance: Pending confirmation
Investment date: September 2021