Micro-Lending Guaranty Fund ACCION International, Inc./AITEC (Latin America) Pre Project Number 940-0002.44

摘要

In 1985, A.I.D./PRE and ACCION International established a $1 million fund to guarantee commercial bank loans which were provided to Latin American microenterprises through local ACCION affiliates. Results of the programs in Paraguay and Mexico are evaluated in the report. The report outlines the country settings, describes the affiliates and their operations, reviews the disbursement of loans and their impacts on beneficiaries, and assesses the project's institutional impact. Five major findings are detailed. (1) In Mexico and Paraguay the institutional impacts of the ACCION Project were more significant than direct impacts on borrowers. (2) The language of the model letter of credit may potentially create difficulties with commercial banks. (3) Evidence suggests that it is necessary to waive some standard banking practices in order to reach large numbers of microenterprise borrowers. (4) The sustainability of a microenterprise program requires charging fees and interest rates that are sufficient to cover the program's real costs. (5) A savings component should be part of microenterprise lending programs.