Fundación Paraguaya, a Paraguay-based non-governmental organization, recently introduced a credit product intended to facilitate “the purchase of environmentally friendly technology,” particularly induction stoves, which run on electricity rather than gas or charcoal. In a pilot program, 383 women who purchased induction stoves saved a total of PYG 83 million (USD 14,700) and reduced carbon dioxide emissions by 75 tons.
The launch of the credit product was funded by the US-based Inter-American Development Bank’s (IDB’s) EcoMicro program. Canada’s Développement international Desjardins (DiD) and Econoler participated by performing a market study and providing technical support relating to product design.
Founded in 1985, Fundación Paraguaya “develops and implements practical, innovative, and sustainable solutions to eliminate poverty.” The firm serves approximately 86,000 clients, employs 450 people and operates 27 branch offices.
Développement international Desjardins (DiD) is a Canadian nonprofit corporation that specializes in providing technical support and investment for the community finance sector in emerging economies. It assists organizations in approximately 30 nations in Africa, Asia, the Caribbean, Central and Eastern Europe and Latin America. DiD is a component of the Desjardins Group, a financial cooperative offering banking, insurance, securities and investment services, with approximately CAD 258 billion (USD 213 billion) in assets as of 2016.
Founded in 1981, Econoler is a Canada-based consulting firm focusing on “the design, implementation, evaluation and financing of energy efficiency and renewable energy projects.” The firm has contributed to the development and implementation of approximately 4,000 projects in 140 countries.
IDB is a multilateral finance institution that was established in 1959 and operates in Latin America and the Caribbean. IDB works with governments, companies and nongovernmental organizations (NGOs) to provide both loans and grants to support small and medium-sized enterprises (SMEs), health, education and other sectors. IDB also provides technical assistance and research in these areas. With 48 member countries, IDB has offices in Washington, DC; Japan; France; and all 26 member countries in Latin America and the Caribbean. As of 2016, IDB reported total assets of USD 113 billion.
By Matthew O’Neill, Research Associate
Sources and Additional Resources:
Information provided directly to MicroCapital by DiD.
Développement international Desjardins:
Desjardins Group’s 2016 financials:
Inter-American Development Bank:
Inter-American Development Bank, 2016 Financials:
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Induction Cooking, The New York Times:
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