“Germina” Promoting Financial Inclusion for Women in Rural Antioquia, Colombia
The Germina Project, subcontract of USAID/DAI Invest Program in Colombia, was created to enhance women's access to commercial finance, focusing on women entrepreneurs in rural Antioquia. These women often struggle to secure credit due to social exclusion, biases, and the lack of tailored financial products. The "Mujer Germina" credit was created with diverse implementing partners under the project to bridge this gap by offering competitive interest rates, minimal documentation requirements, and quick loan disbursements within 72 hours, enabling women to access financing for their business and entrepreneurial ventures. The project's success surpassed initial goals for credit allocation and women participating in technical assistance, securing the sustainability of the credit beyond the completion of the subcontract by one of the implementing partners, Agricapital, and ensuring learning for all the other participating partners and women.
The CLA strategy was organic to from the project structure phase to the completion. Adaptability and a focus on strong relationships have been key to the evolution and success of the Germina Project. Informed decisions based on data analysis and effective collaboration have allowed the project to continue growing and making a significant impact on women in different rural territories of Antioquia, Colombia.