The Canadian NGO Desjardins International Development (DID) recently lent USD 2 million from its Aequitas Impact Fund to the Nicaragua-based unit of Pro Mujer, a US-based NGO that supports women and their businesses with health, training, mentorship, microfinance and other services. Among its financial services are group and individual loans for personal and business needs.
Pro Mujer CEO Carmen Correa tells MicroCapital that “to unleash women’s full potential required a holistic approach that focuses not only on financing, but also on providing training and health services.”
Pro Mujer was launched in 1990 in Bolivia. In addition to Bolivia and Nicaragua, it operates in Argentina, Guatemala and Mexico. During 2022, the NGO provided: (1) financial services to 250,000 clients, including by disbursing loans totaling USD 324 million; (2) 400,000 health interventions, including 9,600 breast exams; and (3) online workshops for 220,000 people. During the same year, the NGO generated an increase in net assets of USD 5.3 million, ending the year with total assets of USD 281 million. Pro Mujer Nicaragua was established in 1996 and has since grown to operate eight branches serving 42,500 customers.
Established in 2021, Aequitas has a volume of CAD 50 million (USD 38 million) that it is deploying as debt and equity to support smaller microfinance institutions in Africa, Asia and Latin America as they work to increase financial inclusion and gender equality as well as manage climate change.
DID is a unit of the cooperative Desjardins Group that was established in 1970 to promote economic development in low- and moderate-income countries. As of 2023, DID works in 30 countries in Africa, Asia, and Latin America. Desjardins Group serves 7.5 million customers with a range of financial services.
By Anaya Jhaveri, Research Associate
Sources and Additional Resources
Direct contact with DID
Direct contact with Stanton Communications on behalf of Pro Mujer
Pro Mujer Nicaragua webpage
https://promujer.org/ni/
Pro Mujer annual report 2022
https://promujer.org/b2b/wp-content/uploads/sites/2/2023/06/Pro-Mujer-International-2022-fst-1231-EV-Final-Long-Version.pdf
Pro Mujer impact report 2022
https://impactpromujer.org/2022/
Desjardins description of Aequitas
https://www.desjardins.com/qc/en/about-us/community/international-development/impact-investment.html
Desjardins Group homepage
https://www.desjardins.com
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