The project beneficiaries are mainly women from rural communities who have never had access to credit.
Remittances in Your Own Language
Hundreds of thousands of Central Americans have migrated to the United States in recent years looking for a better life. Their remittance flows not only support their families, but also promote the development of their respective countries. A project executed by FOMIN seeks to improve the financial system in Guatemala, by creating the right financial products to channel the flow of remittances into productive activities.
Facts and Stats
The project benefits low-income people in rural communities in Guatemala, mostly women
The Cooperative offers interest rates of 18% to 24% compared to rates ranging from 50% to 60% for its competitors.
3,851 women have received information on financial products linked to remittances.
There has been a 12% increase in the volume of transfers and the number of clients has reached 21,845.