In Colombia, more than 12.7 million people live on less than $2 a day and only 2.5 percent are using microfinance services. Opportunity Colombia's vision is to provide stable financial systems as a way to reduce unemployment, social unrest and violence in the country.
Parents and youth struggle to save for tuition and educational expenses due to financial constraints. Colombians living in poverty, especially women, do not have access to financial products, services, and training to grow a business and earn a sustainable income. Many are in desperate need of home improvements and do not have access to loans that can enable changes to be made.
Opportunity Colombia, by offering loans, savings, insurance and training to Colombians living in poverty, is enabling marginalized people to grow local businesses, increase their incomes, overcome extreme poverty and build stronger communities. Opportunity Colombia also provides clients with Home Improvement loans and training to make critical repairs to their roofs, add concrete floors or upgrade kitchens or bathrooms, as well as education loans to help grow and improve local schools.
This year in particular marks an important opportunity to invest in economic growth in Colombia. Ongoing peace talks between the Colombian government and rebel groups signal an end to more than 50 years of conflict. With Opportunity's services, families will be able to join the formal economy and build a foundation for a safer and more prosperous future.