Banco FIE is one of Oikocredit’s equity MFI partners with íts headquarters in San Pedro, a neighbourhood of downtown La Paz. Established in 1985 as an NGO, today Banco FIE operates as a bank, which means that it can receive deposits. This has contributed to it being able to lower its interest rates. The NGO still exists to ensure that Banco Fie does not suffer from mission drift and continues to support micro, small and medium entrepreneurs.
Banco FIE is strongly committed to gender equality. “We, at FIE, refer to both men and women in our language to underline the fact that women are also our priority”, said Ximena Behoteguy, Banco FIE’s president of the board. Banco FIE is committed to women’s empowerment in the workplace by providing equal opportunities to men and women.
One of the products that caught my attention was an educational loan, Crédito Mis Estudios (my studies credit) to finance university and technical careers.