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Latin American partners awarded for sustainable forestry and microfinance
Oikocredit, is a private 35 year old global Development Financing Institution that responds to the needs of businesses that create income for financially disadvantage people and contribute to the local community development.
Established in 1994, the Regional Office East Africa is based in Kenya. It covers countries like Kenya, Tanzania and Uganda, benefiting many small entrepreuners and clients
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News
20-10-2011
Oikocredit partners in Guatemala and Bolivia received awards for excellence in their operations. One successfully cares for the environment and generates jobs, while the other contributes to community development through microfinance.
Oikocredit partner FORESCOM (Empresa Comunitaria Servicios del Bosque S.A.) has been awarded for its forestry operations by the Guatemalan Association of Exporters. The sustainable forestry organization, based in the most northern part of the country, was praised for generating employment, providing social responsible activities and contributing to rural development.
FORESCOM was established under a government policy for sustainably management of the largest nature reserve in Latin America, the Mayan Biosphere Reserve. The reserve, which covers more than 21,000km2, has designated areas where local communities are allowed to undertake sustainable forestry activities. FORESCOM operates in one of these zones, and is made up of 11 communal organizations which develop products from non-traditional species of wood.
Also in Latin America is Bolivian partner Banco FIE, which was recognized as the region’s best microfinance institution (MFI) by the InterAmerican Development Bank. Banco FIE has an outreach of almost 170,000 clients – 15% of them rural – and is a long-term Oikocredit partner. Since 1994, the MFI has received three Oikocredit loans and two major equity investments.
The InterAmerican Development Bank awarded the MFI because of its exceptional performance in tailoring products to its clients needs, reaching rural and underserved markets, transparency and customer service.
For more information on Oikocredit partners in Latin America and around the world, visit our partner database.