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Implementation of Microleasing in the Agroindustry Sector in Nicaragua (Pilot Project)

In Nicaragua, Swisscontact introduced microleasing as an alternative financing mechanism to meet the needs of micro, small and medium enterprises in low income rural and urban areas that have limited access to financial and non-financial business services. By increasing access to financial services, producers are able to expand businesses, improve productivity and thereby increase income.

The Project

The Microleasing Pilot Project for the agroindustry sector, developed with financing from the Swiss Capacity Building Facility (SCBF), is based on the successful experiences of Swisscontact in supporting asset-backed financing models in Kenya, Uganda and Tanzania. It focuses on the promotion of financial innovation and inclusion, fostering a dynamic of improvement and diversification of financial offerings and facilitating access to financing of productive assets, such as machinery and equipment for microenterprises.

The project implements and facilitates a joint working mechanism with different stakeholders, such as financial entities, asset suppliers, technical assistance suppliers and insurance companies. It supports bringing together financial products and the demand for productive assets with knowledge management, monitoring and the management of alliances with other programmes that support micro, small and medium enterprises for the promotion and replication of the pilot initiative with other financial institutions.

Results

    • Collaboration agreements were signed with two microfinance institutions: the Local Development Fund (FDL) and the Foundation for Rural Socioeconomic Development (FUNDESER).
    • Design of the Manual on Processes and Policies for New Products.
    • Business model established for transfer to the staff of the local microfinance institution partner.
    • The business model partners signed the agreements and are prepared to massively replicate the product.  


    Project partner

    • FINANCIERA FDL, S.A.
    • FUNDESER
    • ASOMIF
    • ECONOMART
    • IMI


    Project countries

    • Nicaragua

    Project duration

    2015 - 2017

    Funding

    • SCBF

    Working area

    Finance

    Swisscontact
    Swiss Foundation for Technical Cooperation
    Hardturmstrasse 123
    CH-8005 Zurich

    Tel. +41 44 454 17 17
    Fax +41 44 454 17 97
    E-Mail info@STOP-SPAM.swisscontact.org