U.S. Funded Rural Finance Activities in Latin America and the Carribbean, 1942-1990: A New Strategy for the 1990s

摘要

Rural finance programs have been an important part of U.S. bilateral assistance efforts in Latin America for several decades. The study examines the performance of these activities from 1942-1990 and outlays a new strategy for the Agency for International Development (A.I.D.) to pursue during the 1990's. A.I.D.'s most effective efforts have been in encouraging liberalization of financial market policies. In addition, the Agency has largely backed away from using financial markets to handle income transfers, placed more emphasis on viable financial institutions, and sponsored research in a few countries that is useful in policy dialogue and financial market assessments. In the future A.I.D. should: add a position to coordinate and backstop mission programs in rural finance; undertake less targeted lending; prepare sector studies of rural financial markets, including informal mechanisms; design sector projects aimed at improving overall performance of rural financial markets; emphasize deposit mobilization in rural finance programs; and conduct long-term dialogue with local decisionmakers on controversial issues in rural finance.