Two Weeks in Nicaragua
Two weeks have passed and it is time for an update for my loyal readers -- yes, I mean you Mom. *
First impression: Nicaragua is LOADED with foundations, NGO's, charitable organizations and a potpourri of do-gooders. "Development" is an industry here. It employs a lot of people -- which I reckon is not a bad thing.
Inevitably, I see severe lapses in efficiency. But I think that is understandable.
In this town of about 150,000 inhabitants, I can count at least 17 active, microfinance institutions!
Alternativa (my "microfinanciera") has a a portfolio of about $300,000 USD, and 1200 clients. I can't tell you too much more about the operation. I hope to spend more time with the 3 "promoteras" (bank promoters) in the coming days. I'll know more then!
*Spanish Laugh
First impression: Nicaragua is LOADED with foundations, NGO's, charitable organizations and a potpourri of do-gooders. "Development" is an industry here. It employs a lot of people -- which I reckon is not a bad thing.
Inevitably, I see severe lapses in efficiency. But I think that is understandable.
In this town of about 150,000 inhabitants, I can count at least 17 active, microfinance institutions!
Alternativa (my "microfinanciera") has a a portfolio of about $300,000 USD, and 1200 clients. I can't tell you too much more about the operation. I hope to spend more time with the 3 "promoteras" (bank promoters) in the coming days. I'll know more then!
*Spanish Laugh
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