Partner institutions gained 50,000 new clients, despite the microfinance crisis that affected Nicaragua which lead to significant decrease in private investor funding. Less than 2% of credit portfolio was rated at risk after using PROMIFIN group lending methodologies.
100,000 clients attended PROMIFIN´s financial education training and approximately 1,000,000 more people participated through radio, TV, and newspaper channels.
Numerous laws, regulations and government programmes related to microfinance institutions in Nicaragua, Honduras, and Bolivia were changed as a result of the programme.
1 million more people in Nicaragua and Honduras have access to group savings and lending programs as a result of 20 financial institutions piloting new approaches.
The 100,000 lowest income clients who attended financial education classes increased their average savings from $0 to $40 USD per year, in contrast to $0 to $10 USD amongst people who did not attend the training.
The financial education programme is ongoing and self-sustaining due to continued broadcasting via TV and through financial education programmes implemented in schools as a result of a partnership with a teacher’s union.
Developed, adjusted and translated 15 instructional tools to improve the effectiveness, efficiency and outreach of PROMIFIN’s financial training.
Disseminated financial education and materials to clients, loan officers, and the broader public through training sessions and mass media channels like radio and television.
Advised 100 financial institutions (representing 1 million microfinance clients) and other partners in best practices for promoting savings, strategic and operational decision-making, revising policies and procedures, improving efficiencies and adopting good governance practices.
Played an advocacy role by developing relationships with regulatory bodies, lobbying for policies supportive of low-income populations and microfinance, and maintaining relationships with media contacts.
Assisted MFIs in incorporating financial education as part of their group saving and lending processes.