Together supporting microfinance
and microinsurance in the South

Ciderural

Region: Latin America
Country: Peru
Partner: SOS Faim
Type: Microfinance
Duration: 3 years
Budget: 89,000 euros

The microfinance sector in Peru is highly developed and there are various players on the market: banks, savings and credit cooperatives, Edpymes (Entidad de Desarrollo para la Pequeña y Microempresa), Financieras and non-regulated NGOs.

As in most developing countries the majority of microloans are extended to an urban population. The SOS Faim programme focuses on reinforcing rural microfinance institutions.

In 2009, several microfinance organisations that had already been working together informally for several years joined forces in an umbrella cooperative called Ciderural. It now counts thirteen member organisations and represents 51,000 subscribers in the seven poorest regions in Peru (often extremely remote areas).

As a support centre, Ciderural offers its members financial as well as technical assistance (capacity building). It also seeks external funding (and donations) from fund providers and international organisations.

BRS supports the project with advice on risk management, audit and internal control and computerisation. In addition, there is also guidance on cooperative governance.

Website: https://www.sosfaim.be/ciderural/

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