Self-Help for the Poor through Microcredit
Microenterprise and small business companies account for 59 percent of El Salvador's work force and 49 percent of the nation's gross domestic product. Yet the vast majority of these firms, particularly those with small incomes and in rural areas, do not have access to credit. Experience has demonstrated that properly managed microcredit programs can achieve an adequate return on capital while fulfilling a social need, enabling low income producers to survive and expand. A unique institution in El Salvador is addressing this challenge: the Trust for the Development of Micro and Small Enterprise, or FIDEMYPE.