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PRODEM

Calle Belisario Salinas Nro 520 Esq. Sanchez Lima
La Paz
Bolivia

Contact: Eduardo Bazoberry Otero, General Manager
Phone: (591)2-2419323
Fax: (591)2-2147580
URL: www.prodemffp.com
Email: prodemffp@prodoemffp.com.bo
PRODEM

The Fondo Financiero Prodem S.A. (FFP PRODEM) was founded in August 1998 with the objective of introducing an effective mode of funding for the activities of small and micro-borrowers. Prodem has established lending, debt relief, and auxiliary financial services to its borrowers who are primarily in rural areas. Fondo Financiero Privado PRODEM S.A. operates in Bolivia through its head offices and its offices in La Paz and has been exclusively legalized under Bolivian law.

Program

Today the newly created FFP Prodem offers a wider range of high tech products, such as:



Client Population

FFP Prodemís client base consists of microentrepreneurs, small producers, and retailers. Entrepreneurs with a small capital base but with dynamic adjustment capabilities are FFP Prodemís core clientele. These clients reside in both rural and urban communities within Bolivia. Almost all of the borrowers have a household income at or below 80% of the area median income. Most of FFP Prodemís active clients are between 35 and 40 years old and/or have low levels of formal education, if any at all.

Impact

FFP Prodem has helped improve the lives of many in Bolivia by providing US$86 million (December 31, 2004) in loans to microentrepreneurs. FFP Prodem installed 52 Smart Automatic Teller machines in all 9 departments of the country. Being a rare service, the Smart Automatic Teller machines solidify FFP Prodemís leadership role in helping to rebuild Boliviaís economy. The Smart Automatic Teller Machine services offer the security of digital fingerprint control thus greatly hindering anyone other than the account holder from accessing the account. In 2004, FFP Prodem also greatly increased shareholders equity.


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