Credits applied to fisheries in Riberalta

Credits applied to fisheries in Riberalta

CIDRE has increased lending within the fisheries sector, since March 2016, thanks to the efforts of its new Riberalta agency.
To date, under the Amazon Fish for Food Project, CIDRE has managed to allocate 95% of its projected portfolio to the freshwater fisheries sector, with $ 236, 017 USD allocated to 39 lending operations.
This, along with a smaller but sustainable growth in other agencies, has allowed CIDRE to increase its credit placements in the fisheries and fish farming sectors by more than 220% since December 2015.
Most loans provided by the Riberalta agency are allocated to members of the indigenous community of Trinidacito, located in the North Amazon TIM II Communal Territory of Origin, in Pando, Bolivia. This community has a strong background of fishing Paiche and is one of the main areas of intervention of the Amazon Fish for Food Project. The 28 credit operations carried out in this region show that there is great potential for strengthening the fisheries sector in the Bolivian indigenous communities through the granting of inclusive microcredits.

Public-private agreements
The agreement reached by CIDRE with the public financial institution, Productive Development Bank, resulted in the supply of credit at competitive rates for the fisheries and fish farming sectors. A considerable increase of available credit has been observed since 2015. The designation of public funds in the form of loans for the fisheries and fish farming sectors increased by more than 400% since last year, reaching a total disbursement of $ 258,903 USD to the end of August 2016. This included a loan for starting up a paiche processing plant in Riberalta, whose main suppliers are fishers (mostly men) of the indigenous communities of Trinidacito and Santa Elena. This growth reflects the potential that exists in the fisheries and fish farming sectors for strategic alliances between the public and private sectors to scale food security at the national level.
Initial planning is taking place to integrate two types of customers - private entrepreneurs and indigenous communities - by offering structured loans, where by the processing plant and main paiche distributor act as payment retention agents for loans given to the indigenous communities. Social responsibility and mutually beneficial agreements ensure that there is a focus on equality.

Julio Alem, CIDRE,

Interested in the project?

Contact us and receive news