Like elsewhere in the world, Honduras was not spared from disaster. The Pilarh team was especially hard hit by COVID-19 with the death of their CFO Marley Erazo. This news also hit BRS hard and we extend our condolences to Pilarh and the family of Marley Erazo. We took immediate action and, in consultation with Pilarh, assisted the new CFO with the necessary technical support.
Hurricanes Eta and Lota also had a major negative impact on Honduras’ economy in November 2020 (-9% GDP).
Despite these obstacles, Pilarh still succeeds in continuing its activities unabated and in creating lasting growth.
BRS wants to contribute to the growth of Pilarh with an additional loan of USD 1 million. After all, the demand for loans from people who want to do business is increasing, and this loan from BRS Microfinance Coop will therefore also be used to meet the credit demand of approximately 1,000 local entrepreneurs.