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New Oikocredit investment in Fundación Génesis Empresarial, Guatemala's leading microfinance institution

New Oikocredit investment in Fundación Génesis Empresarial, Guatemala's leading microfinance institution

Wednesday 20 October 2021

Stable and successful Central American microfinance institution helps low-income rural clients and their families improve lives with microfinance services and training.

Amersfoort, the Netherlands – Social impact investor Oikocredit is making a major new loan to Fundación Génesis Empresarial, the largest microfinance institution (MFI) in Guatemala, which provides financial services and training for thousands of low-income, mainly rural people.

Oikocredit's four-year loan of € 9.6 million will support Fundación Génesis Empresarial's work with more than 216,000 clients across the country, over 40% of whom live below the poverty line. The majority of their clients are women (76%) and live in rural areas (70%). In a country where many people experience economic crises and environmental disasters, Génesis Empresarial has a strong track record of lending for micro and small enterprises and household needs. The MFI also provides business development and financial literacy training, female empowerment training and health education.

Jim López, Corporate Financial Officer at Fundación Génesis Empresarial, said: "We value the opportunity to work again with Oikocredit, allowing us to support more rural Guatemalans in advancing their development path and improving their quality of life. Partners such as Oikocredit bring us closer to our strategic objective of serving one million clients in their development path."

Alexandra van den Brule, Oikocredit Investment Officer for Central America and the Caribbean, said: "We are delighted to be renewing our partnership with Fundación Génesis Empresarial, one of the largest MFIs across Central America and one that makes an important contribution to Guatemala's development while creating higher social impact in communities we serve."

Fundación Génesis Empresarial, whose current portfolio totals about US$ 248 million, was previously an Oikocredit partner between 2008 and 2018. It covers the country with 151 branches and about 4,000 rural service points, scores high on institutional and social ratings, and is resuming growth after pausing its goals in 2020 in response to the Covid-19 pandemic.

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has 45 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit's loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances 529 partners, with total outstanding capital of € 835 million (at 30 June 2021). For more information: www.oikocredit.coop.

 

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Note for editors

For more information or to request an interview, please contact Jasmin Panjeta, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: jpanjeta@oikocredit.org.

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