IDEPRO is LMDF’s first investment in Bolivia. This MFI started its activity as NGO in 1991 and later in 2016 obtained the license to operate as a Financial Development Institution. It has a strong reputation for providing financial services to micro-entrepreneurs, mainly in rural areas. It focuses on certain crops through specific products oriented to seven prioritised value chains (quinoa, grape, wood, etc.). Compared to traditional microfinance lending, the institution offers longer loan tenors – to adjust loan repayments to amortisation schedules of equipment and to account for harvesting periods.
The definition of the target population has recently been updated in the new strategic plan. Currently, the MFIs target population are low income people in urban, suburban and rural areas, with a more diversified approach: opening the products offer to commerce and services activities in addition to the productive sector, which was the historical market segment of the MFI (value chain finance).
IDEPRO offers a range of financial products, but not only. The institution also provides free financial education workshops, covering different topics for their clients. The MFI has also launched the “Oportuno Mujer” product as part of the microloans, but with an specific gender approach to support women during the COVID health pandemic.
IDEPRO has close to 12,000 clients with an average disbursed loan of EUR 2,870. 34% of their clients live in rural areas, and 48% of total clients are women, which shows a strong gender balance among their clients.