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bolivia cosmart microcredits smes women entrepreneurs
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Proparco has granted Cooperativa de Ahorro y Crédito San Martin de Porres Ltda. (COSMART) a $5 million line of credit to support the development of its microcredit programs, in particular for women entrepreneurs. This is Proparco's first operation in favour of a Bolivian cooperative.

COSMART is the second largest cooperative in Bolivia. It offers diversified credit and savings services to nearly 14,000 clients, mainly micro-borrowers and farmers. COSMART offers three main categories of credit products, of which microcredit is the main area of activity, aimed at microentrepreneurs and MSMEs. The cooperative also offers savings products and non-financial services.

By financing COSMART's growth, Proparco is helping to maintain 235 jobs within the cooperative within the next five years, as well as nearly 225 jobs among its clients. Proparco's line of credit will also support the granting of nearly 400 additional microcredits, in particular to Bolivian women.

This project is perfectly in line with Proparco's strategy to encourage the development of microfinance in emerging countries and to support the best market players in terms of responsible practices.

The project will thus contribute to SDG 1 "No Poverty", SDG 8 "Economic Growth and Decent Employment" and SDG 10 "Reduced Inequality".