FIDES aims to contribute with reliable sustainable solutions to the key issue of facilitating economic development by creating access to financial services for micro entrepreneurs who are excluded from the formal banking system.
The FIDES Track RecordIn many developing countries, financial institutions targeting farmers and small entrepreneurs have failed. Microfinance banks have proven to be a successful vehicle but mainly for urban clients. Only a few have succeeded in providing reliable services to rural and urban poor on a larger scale.
Firm in the belief that microfinance institutions can be sustainable and at the same time reach a considerable number of borrowers and savers, even in rural areas, FIDES has been innovative in developing approaches for clients in rural areas. The approaches have included technical and organizational innovations that allow the reduction of transaction costs and ensure careful risk management. An approach based on sustainable institution building and strong operations can lead to excellent repayment rates, outreach to under-serviced market segments, significant growth capacity and financial viability. Such institutions have had a considerable impact on income-generating activities and job creation.
Project and progam updates will be posted in due time.