Microfinance pioneer, ACCION International, announced April 3 that the number of active clients currently reached through their 35 microfinance partner network organizations in 25 countries has exceeded 3 million.
Issuing their first micro-loan in Brazil in 1973, ACCION’s partner network reached their first 1 million clients in 2003, followed by rapid growth leading to their second million in mid-2006, and their third million at the end of 2007. ACCION credits the commercial viability of their partner institutions for this rapid growth. Their network members currently focus on developing sustainable and profitable business models and have succeeded in accessing local and global capital markets.
ACCION International also reports that their partner networks made USD 3.72 billion in small loans to microentrepreneurs around the world in 2006. Over the past ten years, ACCION-affiliated institutions have made USD 12.3 billion in microloans, serving nearly 5 million clients with a repayment rate of over 97 percent. Sixty-five percent of ACCION’s network-affiliated clients are women with over 96 percent of their microfinance services being carried out in Latin America.
Founded in 1961, ACCION International is a private, nonprofit microfinance institution that specializes in microenterprise loans, business training, and other financial services. ACCION International operates in Asia, Africa, Latin America and the United States.
By Melissa Duscha
Additional Resources:
ACCION International Consolidated Financial Statements for 2006
Has ACCION Opened the Gates’ To Microfinance Investing?
Milestone for Microfinance: ACCION Network Reaches 3M Clients
MICROCAPITAL STORY: Who’s Who in Microfinance: ACCION President and CEO Maria Otero
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