Improving Financial Inclusion in Rural Colombia.

Rural Finance Initiative (RFI)

Project Dates: August 2015 - August 2020
Improving the financial stability of rural individuals and families in Colombia is essential to strengthening the national economy and preventing a relapse of the 52-year-long internal conflict.

Decades of internal conflict in Colombia have left many people in poverty and without equal financial opportunities. Those living in rural areas and working in agriculture have struggled to obtain financial services — such as credit, deposit, payment, and insurance services. This limitation compromises the ability of individuals and families to improve their productivity and, in turn, inhibits the country’s overall economic growth. The USAID Rural Finance Initiative (RFI) helps rural businesses more easily access financial services, specifically businesses led by women and disadvantaged groups. The project creates and strengthens market-based, rural financial services for micro-, small-, and medium-sized producers and businesses.

Project Goals

  • Help banks and other financial agents expand services in rural areas to give 200,000 new clients increased access to financial services
  • Provide grants and other assistance to financial institutions to reach women, Afro-Colombians, indigenous peoples, and other vulnerable populations
  • Work with financial institutions and organizations (such as women’s cooperatives and LGBTQI organizations) to provide marginalized people with financial education opportunities