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

And now . . . Nicaragua!

I´ve decided that I need more exposure to Microfinance and Microfinance. Ecuador was a good start.

Let´s see what Nicaragua has to offer. I´m in Masaya. I arranged another "internship" through FSD to work for a couple of months (at least!) with Alternativa. They are a MFI (Microfinance Institution) here in Masaya. At present, they don´t have a website, but you can read FSD´s description about them here.

I arrived here on Tuesday -- that is, 9 October 2007, or 5 days ago.

I´ve only spent one day at the organization, so I really can´t tell you much yet. The town (about 150,000 inhabitants) is quite the mess.

The town is without electricity daily from 7am to 2pm. Additionally, the water is shut off (rationing?) from 7pm to 9:30pm everday.

So . . . just the perfect place to learn about development, huh?!?!?!?!

Let the learning begin!