Opportunities for the Majority Brochure OMJ Brochure : Page 3
CreAting houSing SoLutionS through An innovAtive PArtnerShiP Vision Banco , a leading financial institution in Paraguay, provides microloans for microenterprise and consumer goods to about 140,000 clients. Now, with the help of a partial credit guarantee from Opportunities for the Majority, it is launching a new line of loans its clients can use to purchase, construct, or improve homes. Through a collaborative partnership with the international nonprofit Habitat for Humanity and a governmental financial development agency, Vision Banco will be able to provide technical assistance and financial literacy education to the beneficiaries of these new loans. heLPing Low-inCoMe CuStoMerS eStABLiSh Credit hiStorieS Empresas Públicas de Medellín (EPM), a utility company in Medellín, Colombia, is helping its low-income customers establish credit histories, which will enable them to access the formal banking system in the future. EPM realized that customers who had a good record of paying their utility bills had effectively already established credit histories. Now, EPM is offering these customers revolving loans to fund household improvements and buy more efficient household appliances. Customers can repay the loans along with their regular electric bills. Their repayment performance on these loans will build an official credit history that will be made available to the rest of the financial system. Opportunities for the Majority is lending money to EPM to expand its pilot program. http://www.iadb.org/en/projects/project,1303.html?id=CO-M1058 Providing Credit And trAining to food ServiCe MiCroentrePreneurS In Brazil, people who produce and sell simple foodstuffs are called transformadores for their skills in transforming raw ingredients into ready-to-eat meals and snacks. With support from OMJ, Sao Paulo-based wholesale distributor Tenda Atacado, Ltda . is giving these microentrepreneurs new tools that will save them time and money. Working capital loans will allow the transformadores to buy needed supplies and equipment, and training programs will teach them how to grow their businesses. Safe and secure homes are now within reach of the poor, thanks to innovative partnerships. 3
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