ACCION Signs Technical Assistance Contract to Increase Impact in Major Microfinance Market
Boston, Mass., June 2, 2009 – ACCION International, a pioneer and leader in microfinance, and enConfianza Microfinanciera, a microfinance company based in Mexico City, have announced a new partnership aimed at providing innovative and client-oriented financial services to more microentrepreneurs in Mexico.
Throughout the long-term technical assistance contract, ACCION’s microfinance experts will advise enConfianza on best practices in the areas of credit methodology, risk management, project and process management, and human resources and organizational development.
Founded in 2007, enConfianza is an institution that, despite its short lifespan, has designed and implemented a series of new developments to benefit entrepreneurs at the base of the economic pyramid in Mexico. enConfianza offers a variety of working capital products to its clients, who reside and run their microenterprises in Mexico City, Mexico State, Morelos, Queretaro, Hidalgo and Guerrero.
ACCION International is an innovator in financial access, pioneering many of the best practices and emerging standards in the industry. Over the past four decades, ACCION has helped to build and strengthen some of the most successful microfinance institutions (MFIs) in the world.
"We are pleased to be partnering with such a strong and successful organization as enConfianza,” said Carlos Castello, executive vice president for ACCION. “We look forward to developing an innovative model for microfinance in one of the most important markets in Latin America.”
"The next three years with ACCION will allow us to learn a lot, create new trends and products, and develop a cutting-edge business model for the entire industry,” said Mauricio Hubard, president and CEO for enConfianza. “This will help us to fulfill the potential that enConfianza has developed over the last two years and provide more people with economic opportunity.”
To learn more about enConfianza, visit their website at www.mejorenconfianza.com.
About ACCION
ACCION International (www.accion.org) is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training and other financial services – to work their way out of poverty. A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. ACCION International’s partner microfinance institutions today are providing loans as low as $50 to poor men and women entrepreneurs in 23 countries in Latin America, Asia, Africa and the United States. In the last decade alone, ACCION partners have disbursed more than 28.5 million loans totaling $23.4 billion; 97 percent of the loans have been repaid.
ACCION® is a registered trademark of ACCION International.
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Media contact:
Nicole Cassidy
Communications Specialist
ACCION International
Tel: +1 617-616-1515
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