August 24, 2006
Micro-credits will increase 73%

(El Universal) - "Once the government declared mandatory that banks direct 3% of the total loans to the micro-financial sector, financing to this sector started its sustained growth.

According to Softline Consultants, between July 2005 and July 2006, micro-credits increased 73.25% to reach $839,160.8.

The National Assembly is contemplating a reform to the Bank Law in which there will be a compulsory amount, between 3 and 10%, that banks will have to direct towards micro-credits and this increase will be done progressively (...)".