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CONFIAMOS was created in 2016 by three Colombian entrepreneurs as an alternative means of contributing to economic development in its area of operation. The institution provides financing services to a predominantly rural, low-income population, with a focus on women. What sets CONFIAMOS apart is its innovative use of technology, which allows it to operate without a network of physical branches: its model is based on a digital platform that employees can access from anywhere with an internet connection. Thanks to this system, customers can apply for credit, check their accounts, update their information and make payments online in real time.
Colombia is a middle power and the fourth largest economy in Latin America. It ranks 88th out of 191 countries in terms of the Human Development Index (HDI). The country suffers from major infrastructure deficiencies due to historically low levels of investment and complex topography, a problematic security situation due to drug trafficking (especially in the Cauca Valley) and illegal mining. Finally, levels of poverty and inequality are extremely high. Coffee, flowers, emeralds, coal and oil production are the main sectors of the Colombian economy. Colombia is now the world’s third largest coffee producer and exporter (far behind Brazil and Vietnam) and the second largest producer of Arabica coffee (far behind Brazil).
CONFIAMOS operates in two very rural regions of Colombia, with a per capita GDP of USD 2,500, 50% lower than the national average. The institution therefore targets very small micro-entrepreneurs, mainly in rural areas, whose main sources of income are agriculture and livestock farming. With a strong track record in innovative projects, CONFIAMOS has set up two pilot projects to finance farmers on a larger scale, forging alliances with suppliers of inputs and agricultural equipment, as well as providing technical support solutions.
