Incofin, a global impact investor, continues to fuel the remarkable journey of Banco FIE with an infusion by Invest in Visions for USD 10 million. This substantial commitment marks another chapter in a partnership, focused on financial inclusion in Bolivia, that spans over 15 years.
Incofin and Invest in Visions confirm its commitment with new financing to Banco FIE for USD 10 million. It is not the first investment in Banco FIE of the impact investor. The partnership between the Belgian impact investor and the Bolivian microfinance bank goes back more than 15 years.
In 2022 Banco FIE won the European Microfinance Award on Financial Inclusion that Works for Women. The microfinance institution impressed the jury because of the way it incorporated a gender-related dimension into its products and services, making them more accessible to women. Banco FIE provides a wide range of products, including micro-insurance, digital financial literacy and technical support to enhance agricultural productivity among women.
The bank succeeds in bringing Bolivia’s vulnerable into the financial system, supporting the economic ventures of hundreds of thousands of Bolivians who otherwise would have been left out in the cold. Banco FIE swears by inclusion, quality and transparency. No financial return without social return has remained the guiding principle. The bank, for example empowers its clients to modernize their businesses: Banco FIE offers a simple procedure whereby entrepreneurs can very easily set up a web page with a payment button to sell their products online.
Banco FIE is currently the largest microfinance bank in Bolivia with more than 1 million customers. Incofin’s investment reaffirms its commitment to drive inclusive progress, empowering Banco FIE to continue its journey of financial inclusion, social transformation and economic empowerment in Bolivia.
@Ximena Behoteguy, @Fernando López Arana @Cecilia Delgado
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