Despite moderate economic expansion in past years, approximately a third of Paraguay’s population is still living below the poverty line. The workforce is heavily concentrated in the country’s large informal sector, which has thousands of microenterprises. Despite a great need for financial services, access is very limited, with less than a quarter of the population holding an account at a formal financial institution.
Financiera el ComercioFundación Paraguaya
Accion has been working to expand access to financial services in Paraguay for nearly thirty years. We currently work with two partners in the country, Financiera El Comercio and Fundación Paraguaya.
Financiera El Comercio was founded in 1976 and began its microcredit program in 1998. Accion provides technical assistance to support the bank in developing strategies for improving organizational strength and reaching rural markets.
Accion has been working with Fundación Paraguaya since its founding. In 1985, with technical assistance from Accion, a group of national business leaders founded the Fundación Paraguaya de Cooperación y Desarrollo to address the problems of unemployment and underemployment in Paraguay. Over the years, we have continued to provide technical support with a special focus on expanding to reach clients in rural areas.
Accion is supporting partners Financiera El Comercio and Fundación Paraguaya with management and technical assistance services.
Learn more about our Microfinance Services >>