WWB Colombia is a

microfinance Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; saving ...

institution in

Colombia Colombia, officially the Republic of Colombia, is a country primarily located in South America with Insular region of Colombia, insular regions in North America. The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuel ...

History

WWB Colombia - Cali was founded in 1980 by a group of professional and businesswomen in Cali, Colombia. WWB Colombia was the first entity to grant a micro loan in the country. Today it is one of three main microcredit players in Colombia. It was the first to affiliate to the

Women's World Banking Women's World Banking is a global nonprofit organization dedicated to women's economic empowerment through financial inclusion. __TOC__ Mission and vision As an NGO, Women's World Banking (WWB) partners with financial institutions and policymak ...

International Network. It received financial and technical support from various institutions, including the

Inter-American Development Bank The Inter-American Development Bank (IDB or IADB) is an international development finance institution headquartered in Washington, D.C., United States of America. It serves as one of the leading sources of development financing for the countri ...

, FOMIN ( Multilateral Investment Fund),

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...

German Technical Cooperation German(s) may refer to: * Germany, the country of the Germans and German things **Germania (Roman era) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizenship in Germany, see also Ger ...

, Consultative Group to Assist the Poor and Development Bank of Latin America. In February 2005, WWB Colombia issued its first bond on the Colombian Stock Exchange. The amount, in two tranches, was $120.000 million (US $52 million). The rating by

Duff & Phelps Duff may refer to: People * Duff (surname) * Duff (given name) * Duff (nickname) * Karen Duffy, an actress, model, and former MTV VJ once known as "Duff" * Duff Roman, on-air name of Canadian radio personality and executive David Mostoway (b ...

was AA+. As of December 31, 2008, WWB Colombia had 230.000 current loans. The number of jobs generated by microenterprises funded by WWB Colombia amounted to 280.000. As of March 2009, WWB Colombia had approximately 1.000 employees and a network of 59 branches. Its headquarters were in

Cali Santiago de Cali (), or Cali, is the capital of the Valle del Cauca department, and the most populous city in southwest Colombia, with 2,280,522 residents estimate by National Administrative Department of Statistics, DANE in 2023. The city span ...

, Colombia. Clara Serra de Akerman is the president.

Impact and products

The group uses an individual loan methodology based on a computerized information system. The institution’s client-base is 67% women, mainly from the 1st, 2nd and 3rd strata of the population (the lowest income strata). The clients’ main business activities revolve around production (20%), sales (55%) and service (25%) sectors. WWB Colombia offers loans starting at US $50. However, the average loan size is US $1.100. Loans are provided through simple procedures and personalized attention. Terms and rates are fixed according to the type of microbusiness, and collateral requirements according to the condition of each micro entrepreneur. 82% of all loans granted by the institution are renewals. WWB Colombia also offers insurance (life and education).

Sources

* WWB Colombia Annual Report 2007 - in English (198 KB

* WWB Colombia Annual Report 2007 - in Spanish (6,9 MB

* WWB Colombia websit

External links

{{portal, Colombia * WWB Colombia websit

* Women's World Banking websit

* Mixmarket.org - information on WWB Colombi

Microfinance organizations Women's organisations based in Colombia Poverty-related organizations