Banco do Nordeste's CrediAmigo: A development bank's success with micro-finance

John Paul — Mon, 03 Oct 2005 16:45:48 -0500

Date of talk or publication:
April 2004

Organization:
University of North Carolina

Description:

In November 1996 at a meeting in Fortaleza, the World Bank and Banco do Nordeste, a development bank formed to support growth in northeastern Brazil, decided to initiate a collaborative process to jointly implement a local development program based on the idea of micro-credit. Motivated by the fact that small informal companies – family owned and small properties - were not being served by the Bank's financing activities due to the restrictive regulation of Brazil's Banking Systems, Banco do Nordeste and the World Bank decided to develop and launch a pilot low-income bank, targeting micro-entrepreneurs from informal sectors.

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Banco do Nordeste's CrediAmigo: A development bank's success with micro-finance