Due to floods that resulted from the storms during the second week of February, Victor’s crops were negatively impacted. He lost half of his pea and potato crops, resulting in less income from the sale of these products. This direct hit to his finances affected his ability to buy school supplies, construction materials for his home, and food so that his family could eat. To rectify this problem, Victor is requesting a loan in order to buy seeds (onions and carrots), agrochemicals, and organic fertilizer. This will enable him to generate more income that will improve his quality of life and stabilize his family’s finances. As a result, they can resume their path to prosperity.
About CIDRECIDRE is a Bolivian microfinance institution with a strong social commitment to the community. It works to provide quality financial services to rural and peri-urban borrowers, focusing primarily on agricultural loans for dairy farmers and micro-enterprises. CIDRE targets segments of the population that have not traditionally had access to credit, and invests in much-needed community development projects. It is currently working with coca farmers in the Chapare region to replace coca with less controversial crops. Get more involved by joining the Friends of CIDRE lending team.
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Success!! The loan was 100% repaid