Looking to keep dynamizing local economies and promoting an entrepreneurial spirit to communities, Bavaria decided to implement, for the entire metropolitan area of Bucaramanga, the “Bavaria Opportunities” program, in order to strengthen the business units of grocer communities, ease conditions which will allow them development and progress, and improve the quality of life of their families through microcredit and personalized advice.
In this occasion, the total amount of the alliance is $2.4 billion pesos, a sum through which it is expected to benefit 2.500 grocers from socioeconomic strata 1, 2 and 3 each year, for three years.
Microcredit is a social tool focused on entrepreneurs, and which has a clear purpose: offer access to loans under favourable conditions, seated on a trust based economic relationship. Its implementation in Colombia and worldwide, has been a success as a means to fight poverty. In fact, a study carried out by the World Bank over fourteen years, demonstrated that 40% of the total poverty reduction in Bangladesh, was directly attributed to micro-finances.
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Press Release
21 MAY 2010
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