Completion of our Profem project in Colombia: major leverage and tangible impact for women and youth in rural areas

After 5 years of activity, our Profem project has come to a successful conclusion. This major project, which covered all regions of Colombia, was made possible thanks to the support of the Canadian government and the technical and financial collaboration of 28 public and private Colombian partners. Together, we have achieved results of which we are very proud! 

Profem made its mark by encouraging investments from the local private sector totalling 20 times the Canadian government's initial contribution of CAN$5 million. It has also generated major tangible benefits for target populations, that is, women and young people living in rural areas of Colombia.

Easier, safer and more sustainable access to financial services

Five Colombian inclusive finance institutions took part in the project, contributing their know-how and financial resources, and agreeing to evolve their practices to better meet the needs of vulnerable populations. They adopted a more specific and flexible product offering, more accessible and secure distribution channels, and a more inclusive customer approach. 

• These institutions have injected CAN$101.8 million into financing the activities of rural women and young people, for an average loan of CAN$4,100.
• 24,895 loans were granted using the credit methodologies deployed by DID
  • 81% to women
  • 19% to young people.

“Thanks to this loan, I have improved the quality of my coffee and bananas by buying better inputs, and invested part of the money in buying a house for the future of my 4 children and 4 grandchildren.”
Dora Amaya, agro-entrepreneur

An innovative and inclusive guarantee mechanism

To encourage financial institutions to lend to women and young people in rural areas despite the risks involved, we set up an inclusive guarantee mechanism that marked a first in Colombia. This mechanism, in which DID has invested, facilitated the granting of loans on more flexible terms, adapted to the realities of rural women and youth.

• CAN$5.8 million invested by DID-partner financial institutions
• 4,717 new loans granted to rural women and youth thanks to this incentive, 75% of them to people who were previously unserved

More knowledge, confidence and control over their finances

In partnership with our Colombian partners, we also developed and disseminated a series of educational programs focusing on skills development and financial literacy, confidence, leadership and the prevention of family violence. To ensure maximum accessibility, these programs combined face-to-face training sessions with online platforms.

• 22 494 people (75% women and 25% youth) have successfully completed one or other of the 12 financial literacy programs we have designed and deployed across the country.
• 11 public and private institutions have adapted and disseminated DID's educational content to their clientele.

“I didn't believe in myself. But thanks to the support I received, I was able to grow as a mother, as a wife, as a woman and as a leader.”
Yésica Torres, agro-entrepreneur