The Argentinean microfinance sector is developing in a complex, dynamic, and ever-evolving reality, which demands adequate tools; ANDARES activities serve the microfinance institutions (MFIs) to expand the sector and reach a greater number of poor micro-entrepreneurs. The people who work at ANDARES share a profound conviction in microfinance as an agent of social and personal progress and as an effective (though by no means all-encompassing) weapon in the struggle to overcome social inequality.
Since its foundation more than 600 people participated in our activities.
To contribute to the eradication of poverty and social exclusion encouraging the development of the microfinance sector.
- To strengthen individual MFIs institutionally and operationally. - To strengthen the microfinance human resources. - To foster a proper dialogue amongst different actors.
- Investigations/Research - Organizational Development for MFIs - Microfinance Annual Conference in Argentina - Local distributor of the publications of CGAP (the Consultative Group to Assist the Poor)
1072
Inspeccion General de Justicia
2006
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Currently, one of every three Argentines is considered to be a poor person, and for them the financial services can be the beginning of a more dignified life. Where they live, there is a limited availability of jobs and almost generally the salaries are not enough. To be able to survive they must create their own small "business". They elaborate and sell food, sew clothes, they transform their house window into a kiosk, among other activities, everything to be able to produce food for their families.
The microentrepreneurs work hard every day, but, on not having relied on the capital that it should allow the growth of their small business, they remain caught in a "poverty trap". To take forward their business every day they undertake informal lending facilities with a 10 per cent weekly interest rate, or buy raw material or merchandise on credit , therefore, at higher prices. Hence, any profit of their business goes for other suppliers, thus remaining caught in the need for daily survival.
To be able to get out of this trap they need working capital, but they are isolated of the financial formal system. Such small amounts of the credits they need are not attractive for the banks (big financial institutions) since they must incur in high transactional and administrative costs, also the microentrepreneurs lack a credit record and real guarantees.
This reality shows why ANDARES decided to work for the development of the microfinance sector in Argentina.
