Decisive support for microfinance in Paraguay

(Caracas, September 21, 2009).- CAF approved an equity investment of US$500,000 in Vision Banco of Paraguay with the objective of developing the microfinance in that country.

CAF President & CEO Enrique García said CAF had been meeting the financing needs of Latin American microenterprises since 1995 through support for specialized financial institutions, in the conviction that they are key factors for achieving equitable and inclusive economic growth in the region.

"The approval that CAF has made today is an unmistakable reflection of the importance we give to the sector," García added. "It is an appropriate mechanism for promoting the activity of micro- and small-sized enterprises as a vehicle of change for stimulating the harmonious and inclusive development of our societies."

Vision Banco is the leading Paraguayan microfinance institution with over 100,000 customers among micro- and small enterprises. In 2007 it was the first bank in Paraguay to specialize in microfinance and is highly committed to the productive sectors of the country, considering that they are where the country has comparative advantages and the greatest growth potential. The institution offers a considerable range of products and services for small producers and micro-entrepreneurs.