While Latin America has seen improvements in the number of people living on less than $2 a day, poverty and income disparity remain. An estimated seven out of every ten jobs are in the informal sector, so specifically addressing the economic needs of this sector holds great promise.
Accion is deeply rooted in Latin America. We were founded in Venezuela more than 50 years ago and disbursed our first microloan in Brazil in 1973. Today, we work with 22 local microfinance institutions in 15 countries in the region. While much of our work still remains focused on our core management, investments and governance services, we're also developing new financial products aimed at reducing the vulnerability of hardworking families living in poverty and creating new ways of delivering products and services to effectively reach the regions’ most geographically isolated clients: those living in rural areas.