The government of Mexico again shows its confidence in Développement international Desjardins

Lévis, March 10, 2008 - In Mexico, the Secretariat for Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA) has once again shown its confidence in Développement international Desjardins by awarding DID a new contract intended to improve access to sustainable financial services adapted to the needs of those living in marginalized rural areas.

The financial cooperatives set up in Mexico since 2003 by DID in the marginalized areas of Chiapas, Huasteca and Puebla have combined resourcefulness and discipline, enabling them to adequately serve a poor and mainly indigenous clientele while progressing towards profitability. These institutions reach over 50,000 members, 56% of whom are women and 71% of whom live in rural areas. The cooperatives in Chiapas and Huasteca are already financially self sufficient while the newest institution, in the state of Puebla, is making steady progress.

This second phase of the two-year project, worth CAN $3.5 million, targets consolidation of access to financial services in rural areas and significantly increased membership among the poor. Specifically, it is hoped that by the end of this DID contract the participating financial institutions will have acquired 30,000 new members.

During the project, management methods will be improved so that the financial cooperatives can become licensed savings and credit institutions under Mexican legislation. Capacity building for operators in these institutions will therefore be an important component of the project. Finally, the project will stimulate the establishment, strengthening and expansion of financial cooperatives in rural areas.

About DID
Développement international Desjardins (DID) is a component of the Desjardins Group, the largest integrated cooperative financial group in Canada. For over 35 years, DID has been providing support for the creation, development and strengthening of financial institutions and is now present in twenty countries in Africa, Latin America, the Caribbean and Central and Eastern Europe. DID, which specializes in providing technical support and investment for community finance, draws on the rich and diverse experience acquired through collaboration with numerous partners, and on the 100 years of experience of the Desjardins Group. DID works in partnership with the Canadian International Development Agency, the World Bank and other multilateral organizations.

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Source :
Karina Lehoux
Communications Advisor
Développement international Desjardins
Phone : 418-835-2401, extension 5796