RURAL FINANCE INITIATIVE Annual Report Year 1 August 2015

RURAL FINANCE INITIATIVE

Annual Report Year 1 August 2015 – September 2016

Contract: AID-514-C-15-00002

Annual Report Year 1 August 2015 – September 2016

Contract: AID-514-C-15-00002 Submitted to: Marta Aponte, Director Office of Acquisition and Assistance USAID/Colombia; and Germán Sanz, Contracting Officer’s Representative U.S. Agency for International Development Carrera 45 No 24 – 27 Post 2, Bogotá Submitted by: Chemonics International Chemonics Contact: Chief of Party Arelis Gómez Carrera 7 No 80-49, Oficina 703, Bogotá October 31, 2016 Cover Photograph RFI activities. Photographs courtesy of USAID’s Rural Finance initiative, implemented by Chemonics International. This document was produced for review by the United States Agency for International Development. It was prepared by Chemonics International Inc. for the Rural Finance Initiative, contract number AID-514-C-15-00002.

Table of Contents

Overview ...................................................................................................................................................5

I. Results and Performance ..................................................................................................................8

II. Reduction of Existing Barriers that Prevent Women and Vulnerable Populations from Accessing Financial Services .................................................................................................................................... 12

III. Accomplishments by Partner Institution ....................................................................................... 13

IV. Grants......................................................................................................................................... 28

V. Other Accomplishments ................................................................................................................ 29

VI. Annexes ...................................................................................................................................... 30

Acronyms

APS Annual Program Statement BC Banking Correspondent BdO Banca de las Oportunidades

CELI N/S Consolidation and Enhanced Livelihood Initiative – Northern and Southern Regions

FI Financial Intermediary GLAC Grupo Local de Ahorro y Crédito (Local Savings and Credit Group) GVP Gender And Vulnerable Populations LGBTI Lesbian, Gay, Bisexual, Transgender, and Intersex LRDP Land and Rural Development Project M&E Monitoring and Evaluation MoU Memorandum of Understanding MSME Micro, Small, and Medium-Sized Enterprise NGO Non-Government Organization PAR Portfolio at Risk POS Point of Service RFI Rural Finance Initiative TA Technical Assistance VCF Value Chain Finance

Annual Report FY16 | Rural Finance Initiative | USAID 5

Overview Founded on the recognition that Colombia’s sophisticated financial infrastructure largely fails to reach rural and agricultural families, the Rural Finance Initiative (hereafter RFI or “the Initiative”) is committed to removing barriers of risks, costs, and information, to help rural families access financing, ultimately boosting economic growth and breaking the mutually reinforcing cycles of inequality and conflict. This Annual Report outlines the main results attained by the Initiative during the 2016 Fiscal Year (FY16) in its efforts to respond to and ameliorate the limited access to finance faced by rural families, which reduces their ability to improve productivity and attain sustainable economic growth. The Initiative seeks to promote inclusive financial intermediation of women, Afro-Colombians, indigenous, and other marginalized populations. To this end, RFI provides technical assistance and training to financial intermediaries (FIs) in the provision of market-based rural financial services to micro, small and medium-sized enterprises. By the end of 2020, RFI will have 200,000 new rural clients – more than 50% of them women – connected to formal financial services and accessing USD$500 million in new loans, savings, insurances, and other financial products. These clients will be located along 197 municipalities prioritized by the Government of Colombia and USAID distributed in seven economic corridors: i) Montes de María; ii) Bajo Cauca Antioqueño – Sur de Córdoba; iii) Sur del Tolima; iv) Cauca – Valle del Cauca; v) Caquetá; vi) Meta; and vii) Tumaco. (See Annex 1) All agricultural financing that takes place in these prioritized municipalities are directed to economic activities in the dispersed rural areas or veredas around target rural municipalities. In order to reach RFI targets, in FY16 the Initiative successfully signed MoUs with 21 partner institutions: 13 financial intermediaries

RFI Partner Institutions


(FIs) and 8 non-financial intermediaries. These FIs include some of the largest and best-known banks and financial institutions in the country, whereas the non-financial partner institutions include Government agencies, universities and private companies. To improve the current situation faced by the rural population, the Initiative provides targeted technical assistance and innovative approaches to FIs. They are included within tailored made work plans made in collaboration with each implementing partner, summarized as follows:

• Technical assistance (TA) and training for commercial banks, cooperatives, finance companies, and microfinance NGOs to seize profitable business opportunities for expansion of client-responsive services into rural areas.

• Incentive and Challenge Grants to promote innovation that enable partner institutions to better reach rural areas and marginalized populations.

Since its inception in August 2015, RFI has co-developed work plans and awarded incentive grants totaling USD$1,273,938 to eight of these FIs, whose leveraged resources total USD$4,046,403. Moreover, RFI has had a positive effect on the livelihoods of more than 39,000 clients in 192 different municipalities throughout RFI’s seven corridors. During its first year, the Initiative supported the approval of 27,930 credit loans and 5,718 insurance policies, as well as the opening of 6,088 savings accounts. Furthermore, RFI has made it possible for 19 new banking correspondents (14 with Bancompartir, 4 with Microempresas and 1 with Congente) to start operations in rural areas thanks to incentive grants. At present, only nine institutions are reporting results and indicators, as seen in Figure 1 below. Noteworthy, during FY16, the Initiative has reached with financial services to 192 municipalities. Notwithstanding, RFI has secured FIs commitments to cover all 197 target municipalities, thereby bringing to a 100% the geographic coverage in the seven corridors. The Initiative also works in synergy with other USAID programs, among them Consolidation and Enhanced Livelihoods Initiative (CELI); Conservation Landscapes Program (CLP); Land and Rural Development Project (LRDP); Reintegration and Prevention of Recruitment (RPR); and Victims Institutional Strengthening Program (VISP). The non-financial services these programs provide build a strong social fabric in populations that long needed the full array of financial services.

Comcacaot member producers, Banco Agrario´s first credit beneficiaries under RFI technical support.

Photo: RFI


Figure 1.


Results and Performance

I. Results and Performance

This section lays out the Initiative’s results and performance through the first year of implementation. As of September 30th 2016, nine partner institutions (Bancompartir, Microempresas, Congente, Interactuar, Opportunity, Crezcamos, Banco Agrario, Davivienda and Banco de Bogota) are reporting progress to date (see Annex 2 for details). Together, these institutions provide financial services to 192 municipalities (97%). Figure 2 above shows the current level of coverage by corridor, where Goal corresponds to the total number of target municipalities by corridor and Progress corresponds to the number of serviced municipalities. Figure 3 below shows a breakdown of the outreach by corridor and gender. According to the figures, RFI has been able to expand financial services to a total of 39,736 new clients. Out of this total, 19,741 (53%) are women1, thereby reaching the Initiative’s target of 50% female participation.

Figure 3. Clients by Corridor*

*Excludes Banco de Bogotá and Davivienda. RFI is also tracking uptake of vulnerable populations. The following table presents an estimated breakdown by corridor and ethnicity2. As the figures indicate, 22% of the total clients are Afro-Colombians (17%) and indigenous populations (5%). 1 Banco de Bogota and Davivienda are not reporting data discriminated by gender. Thereby, the Total Column shows 37,147 instead of aggregated outreach of 39,736 clients shown in figure 4. 2 No financial intermediary reports information regarding ethnicity in its data. The information presented is calculated by using the population percentage distribution using Colombia’s latest demographic survey (Censo 2005) performed by DANE (National Administrative Department of Statistics). RFI used this information to calculate an estimate with the total number of clients served in each RFI municipality.

Corridor Men Women Total Bajo Cauca Antioqueño - Sur De Córdoba 6,806 7,515 14,321

Caquetá 2,822 3,725 6,547

Cauca - Sur Del Valle Del Cauca 728 967 1,695

Meta 1,102 1,339 2,441

Montes De María 4,310 4,131 8,441

Tolima 1,080 1,346 2,426

Tumaco 558 718 1,276

TOTAL 17,406 19,741 37,147

Figure 2. RFI - Municipalities Coverage by Corridor

BAJO CAUCAANTIOQUEÑO - SUR DECÓRDOBA

CAQUETÁCAUCA - SUR

DEL VALLEDEL CAUCA

META MONTES DEMARÍA TOLIMA TUMACO

GOAL 55 40 20 28 33 19 2

PROGRESS 54 40 18 27 32 19 2

55

40

20

28

33

19

2

54

40

18

27

32

19

2

MU

NU

CIPA

LITI

ES

CORRIDORS

C O V E R A G E B Y C O R R I D O R



Figure 4. Estimated Distribution by Corridor and Ethnicity

Today, RFI partners are providing three types of financial services: credit, savings and insurance. Together, these products have been able to increase the number of financial services users in all seven corridors by a total of 39,736 new clients, and a consolidated portfolio of USD$107,407,845. A breakdown by service, Figure 5 below, show 27,930 credit clients (70%) with a portfolio amounting to USD$102,103,934 (95%). Savings represent 6,088 clients (16%) with a portfolio of USD$5,156,993 (4.9%). Insurance represents 5,718 clients (14%) and a total portfolio of USD$146,918 (0.1%). Figure 5. Financial Services Provided by Type and Location

Corridor Credits Savings Insurance Total

Clients USD Clients USD Clients USD Clients USD

Bajo Cauca Antioqueño - Sur De Córdoba

8,626 $18,521,565 3,174 $947,778 2,810 $52,709 14,610 $ 19,522,052

Caquetá 6,941 $21,698,410 439 $1,454,479 105 $3,587 7,485 $ 23,156,476

Cauca - Sur Del Valle Del Cauca 1,618 $3,356,717 155 $645,324 37 $1,721 1,810 $ 4,003,762

Meta 1,895 $9,374,835 995 $579,151 141 $5,625 3,031 $ 9,959,611

Montes De Maria 5,000 $9,149,118 1,150 $665,337 2,442 $74,531 8,592 $ 9,889,026

Tolima 2,718 $38,059,471 120 $795,155 46 $2,151 2,884 $ 38,856,777

Tumaco 1,132 $1,943,818 55 $69,729 137 $6,594 1,324 $ 2,020,141

TOTAL 27,930 $102,103,934 6,088 $ 5,156,993 5,718 $146,918 39,736 $ 107,407,845

Annex 3 provides detailed information on performance of each RFI indicator as defined in the performance management plan.

Corridor Afro-Colombian Indigenous Mestizo Total

Bajo Cauca Antioqueño - Sur De Córdoba 3,484 786 10,337 14,610

Caquetá 126 112 7,246 7,484

Cauca - Sur Del Valle Del Cauca 509 418 883 1,811

Meta 62 83 2,886 3031

Montes De María 1,356 261 6,955 8,592

Tolima 54 239 2,590 2,884

Tumaco 1,061 61 201 1,324

TOTAL 6,652 1,960 31,098 39,736



The Initiative´s activities include connecting FIs with rural clients through tailored financial products, expanding delivery channels, reducing transaction costs, and leveraging value chain opportunities. In order to achieve these results, RFI delivers technical assistance and provides complementary mechanisms, such as trainings and grants which are included in the MoUs and Work Plans defined together with each institution. In FY16, the Initiative was able to incorporate 13 financial institutions as implementing partners, one more than the expected target of 12 implementing partners. Similarly, 192 (97%) out of the 197 target RFI municipalities started being served with financial services during the Initiative’s first year of existence. This is a significant achievement when taking into consideration that many of these municipalities did not have access to financial services other than Banco Agrario. During FY16 and thanks to the financial support provided by RFI, 19 new BCs were opened in 18 different municipalities across the seven corridors. Additionally, necessary arrangements are underway for one additional BC and 6 new branch offices that are guaranteed to start operations in early FY17 Q1. (See Figure 6 below).

In FY16, 19 new banking correspondents from participating financial intermediaries started providing services thanks to RFI support. Photo: RFI



Figure 6. Schedule of New Openings

FI Type Corridor Municipality Opening date

Presence of other financial

intermediaries*

Microempresas de Colombia Branch Office

Bajo Cauca Antioqueño – Sur de Córdoba

Ituango (Antioquia)

October 4, 2016 None

Bancompartir Branch Office Montes de María El Carmen de Bolívar (Bolívar)

October 6, 2016 Yes

Interactuar Branch Office Bajo Cauca Antioqueño – Sur de Córdoba

Tarazá (Antioquia)

October 12, 2016 None

Bancompartir Branch Office Bajo Cauca Antioqueño – Sur de Córdoba

Montelíbano (Córdoba)

October 13, 2016 Yes

Crezcamos Branch Office Montes de María Arjona (Bolívar) October 14, 2016 Yes

Bancompartir Branch Office Tumaco Tumaco (Nariño) October 20, 2016 Yes

Congente Banking Correspondent Meta Puerto Rico

(Meta) October 27, 2016 None

*Financial intermediaries other than Banco Agrario.

By opening new banking correspondents and branches, as well as hiring new credit advisors in the scheduled regions, the Initiative has been able to expand financial opportunities to rural areas. Furthermore, having such services in these distant places allow financial customers to reduce their transaction costs, since they previously had to travel between three to four hours to the closest financial intermediary.


Reduction of Existing Barriers that Prevent Women and Vulnerable Populations from Accessing Financial Services

II. Reduction of Existing Barriers that Prevent Women and Vulnerable Populations from Accessing Financial Services

A main strategy to increase access to financial services for women and vulnerable populations has been to identify and remove existing barriers. In FY16, RFI was able to identify the following barriers and present a possible solution to each of them, as follows: Figure 7: Existing Barriers that Prevent Women and Vulnerable Populations

from Accessing Financial Services

Barrier Response Financial Intermediary

Women required the husband’s signature to apply for a loan.

• Remove the husband’s signature as requirement.

• Many FIs, in fact, now require the wife’s signature authorizing the husband to pledge the family assets as collateral.

All FIs

Most women do not have commercial assets on their name to pledge as collateral for a loan.

• Commercial assets are replaced with guarantors, business & home assets, savings group guarantees, promissory notes and other forms of innovative collateral.

• Promotion of trust-groups or núcleos solidarios, whereby

women guarantee each other’s loans.

• Opportunity (GLACs) • Banco Agrario (with

núcleos solidarios) • Bancompartir • Interactuar

Land is required as collateral for agricultural loans. Women do not have land in their names.

• Rural landless women can access credit even with rented land or land without proper ownership title. Land title is replaced with innovative forms of collateral, as cited before.

• Banco Agrario • Banco de Bogotá • Coofisam

Women have seen their credit history affected by the armed conflict.

• Product design for rebuilding credit history: FIs start with short terms and small amounts that grow as the client rebuilds his/her credit history with the FI.

• Bancompartir & Narrar Para Vivir.

• Interactuar • Banco Agrario • Congente and

UNWomen

Little business experience of youth and young women, limits access to loans for start-up enterprises.

• Years in operation requirement has been dropped from two years up to 3 months. Start-ups are usually accompanied by TA and training.

• Minimum age requirement for access has been reduced to 18 years, thereby facilitating access to for youth and young women many of them already single mothers.

• Change the credit relational model by establishing staff

incentives based on targets for recruiting new customers. Afro-Colombian, indigenous, LGBTI, women and youth have largely benefitted creating sustainable financial inclusion.

• Bancompartir • Banco Agrario • Interactuar • Coofisam • Opportunity • Banco de Bogotá

Social and cultural characteristics of indigenous communities make their relationship with financial institutions more complex

• Work with indigenous population to strengthen their credit management and profitability. Develop strategies within their Autonomous Government, to reach a larger number of clients and therefore cover more of the indigenous population with financial services

• Revolving funds with indigenous communities of Nasa Community project (Tacueyó, Toribío y San Francisco)


Accomplishments by Partner Institution

III. Accomplishments by Partner Institution

Financial Intermediaries 1. Bancompartir: RFI started collaboration early in FY16 as a result of synergies between Bancompartir and CELI N/S. The bank began the provision of loans to agricultural producers associated with CELI N/S in Tumaco, and eventually opened a new branch office. In addition, the synergy resulted in the bank co-sponsorship of a diploma program with Universidad de Antioquia, which successfully trained 137 local youth to become loan officers. During FY16, RFI assisted Bancompartir in the design and implementation of a pilot program to provide access to financial servicesr to conflict victims in Montes de María. Narrar Para Vivir, a non-profit indigenous organization with over 500 women victims of the Colombian armed conflict, constituted the first pilot. The bank also took further steps towards meeting the financial inclusion targets set within its work plan. To meet these results and serve RFI municipalities, the bank has opened 14 new banking correspondents (in the municipalities of Arjona, La Montañita, Garzón, Espinal, Moñitos, Hobo, Aipe, Isnos, Sampués, Tumaco x2, Restrepo, Mompós, and Carmen de Bolívar) out of a total of 17 programmed BCs. Bancompartir committed to the opening of three new branches in Tumaco, Carmen de Bolívar and Montelíbano in FY17 Q1. The bank is currently using its mobile agency to provide financial services and education to local inhabitants in the municipalities where the new branches will operate.

Bancompartir starts commercial operations in Bajo Cauca by participating in Tierralta’s Plantain Faire.

Photo: RFI



2. Microempresas de Colombia: During FY16, the Initiative and the Antioquia-based cooperative Microempresas de Colombia carried out a full review of the institution’s credit policies and procedures, including staff incentives, performance reports and indicators, among others. In parallel, RFI conducted two-day training sessions on rural microcredit pillars. Topics included best practices, risk analysis, productivity, loan repayment and fraud alerts. Directors, credit managers and coordinators were in attendance. With RFI financial support, MICROEMPRESAS committed to open six banking correspondents and a new branch. To date, four BCs have already opened and are currently providing financial services to people in the municipalities of Briceño, Nechí, Valdivia and Cáceres. The cooperative is also fixing the infrastructure for a new branch in Ituango (Antioquia), a municipality with a long history of internal violence. Additionally, RFI and MICROEMPRESAS have initiated dialogues to work with Isomura, a women’s organization located in Caucasia (Antioquia). This associations will act as promoter of MICROEMPRESAS’ credit and savings portfolio among its 15 women sub-groups that make-up its constituency.

Microempresas de Colombia and its new banking correspondent in Valdivia (Antioquia). Photo: RFI



3. Banco Davivienda: During FY16 the Initiative started providing TA to Banco Davivienda to support the creation of a new rural-microcredit division. The bank wants to leverage its vast presence across the country and start serving the rural poor. So far, RFI has provided TA in new staff selection and the development of credit policies and procedures for the new division. This new division will be tested in FY17 Q1 and is expected to reach at least 40 different RFI municipalities through 10 different branches and 45 new credit advisors. Furthermore, RFI has also provided TA to restructure the agriculture bank’s portfolio by streamlining the credit process for shortening loan disbursement times. Additionally, the Initiative is adapting and developing the provision of credits, savings, insurance, and remittances through Daviplata, the bank’s mobile wallet service. Finally, the bank is one of four pilots for testing and implementing value chain financing cattle, avocado, cocoa, plantain and coffee. Overall, the Initiative expects that as result of the TA provided, Davivienda should be able to reach at least 80 RFI municipalities thanks to its wide array of improved services.

Davivienda was present during the Special Coffee Fair in Planadas (Tolima). Photo: RFI



4. Banco Agrario: Banco Agrario as a partner institution is of utmost importance for the Initiative, given its extensive presence in RFI municipalities and its mandate to serve the rural poor. During FY16, RFI’s assistance to Banco Agrario focused on the following activities: i) Design a model for implementation of Plan

Tumaco, an initiative promoted by President Santos, where 10,000 loans were awarded in the region. RFI worked with restoring and improving lending practices in the region by incorporating a coordinator and four new credit officers. This resulted in the financing of COP $50 million to Comcacaot, a cocoa producers’ organization in Tumaco and 97 cocoa producers.

ii) Restructure the administration model of the microcredit division to manage 1,000 new loan officers and coordinators in preparation for the anticipated increase in demand for financial services during post-conflict. To this end, RFI conducted out three one-day training sessions with attendance of 450 staff members.

iii) Structure value chain finance as a permanent product within the bank’s portfolio. In addition, RFI worked on the design of new innovative processes to reduce field visits and supervision of isolated clients.

iv) Proposals of adequate financial products to serve post-conflict demobilized, reinserted, and displaced populations. Tailored products include: reconstruction of credit history, financing new enterprises through group lending, individual financing of new enterprises and agricultural financing.

v) Other TA include the bank segmentation for the different financial products. Review of the núcleos solidarios group lending product to adapt it to new enterprise financing. Field training for loan officers in loan collection among other topics.

Lidia Grueso, Comcacaot´s Manager, during ANDI´s II Market Social Place. She was invited to participate by Banco Agrario as their success story.

Photo: RFI



5. Banco de Bogotá: Banco de Bogota is currently present in 61 RFI municipalities across all 7 corridors. The bank is committed to promote financial inclusion by expanding its current coverage into rural areas of Colombia. During FY16 the Initiative has provided TA on the following: i) Design of new credit products and

promotion of the tarjeta cafetera inteligente among its holders. This product, available to coffee growers that are members of the Federación Nacional de Cafeteros de Colombia, works as an ID card and debit card. The bank sees great potential in providing a wider variety of products since there are currently 68,000 card holders across RFI municipalities.

ii) Define financial services and routes for the new channel, Ruta por el Progreso del País, a bus fully equipped as a mobile agency to serve dispersed/isolated RFI municipalities. A second mobile agency is scheduled to enter operation in FY17 Q2.

iii) Reengineer of the current microcredit product to adapt it for rural clients, and improve productivity and loan collection.

iv) Prepare the bank to participate as a pilot for value chain financing.

Banco de Bogotá´s Ruta por el Progreso offering financial services in Caquetá corridor. Photo: RFI



6. Interactuar: The corporation focuses on promoting entrepreneurship and serving vulnerable populations like women heads of household and youth through the provision of training, TA and financing. In FY16, RFI provided Interactuar with its first time ever received TA on microcredit best practices and agriculture lending. Interactuar has committed and is currently preparing for the opening of two new branch offices with RFI financial support in the Bajo Cauca Antioqueño – Sur de Cordoba corridor (Tarazá in Antioquia and Tierralta in Cordoba). RFI and Interactuar have also negotiated the participation of Asociación de Mujeres de Valdivia (Antioquia) and Asociación de Mujeres Vivir Mejor in Valencia (Córdoba) to serve as promoting agents in their communities on behalf of Interactuar.

Interactuar expands its financial services in Bajo Cauca Antioqueño corridor by participating in the Special Coffee Fair in Yarumal (Antioquia). Photo: RFI



7. Opportunity: During FY16, RFI partner Opportunity committed to serve ten prioritized municipalities, six in Montes de María and four in Bajo Cauca Antioqueño. RFI’s TA has focused on adjusting some of Opportunity’s products to better serve rural populations, particularly those living in conditions of extreme poverty. One such product is known as grupos de confianza, a poverty-lending methodology that groups 20-30 women to save, access credit (as low as USD$50 in rural areas and USD$70 in urban areas), and serve as guarantors for each other. RFI is re-engineering the product’s policies and procedures to strengthen the groups’ management, reduce member drop-out, and increase repayment. RFI is also working with Opportunity in tailoring individual credit (micro and SMEs) to rural/agricultural populations. To this end, RFI assisted in designing an agricultural credit manual, to be tested in a pilot on value chain finance with two associations of beekeeping producers in Montes de Maria. During FY16, Opportunity also expanded into Maria la Baja, Carmen de Bolívar, and Planeta Rica. With four newly hired GLAC officers, supported by RFI financial assistance, the institution committed to target 100 new GLACs and 2000 women in the region. Opportunity is the only partner who is currently implementing this group savings methodology. Credit is to be added as an important product for GLACs in their bankarization process.

Opportunity´s advisors meet with local leaders in Montes de María to discuss the creation of trust groups.

Photo: RFI



8. Congente: During FY16, the Initiative and the Meta-based cooperative Congente elaborated a work plan which includes RFI financial support to help expand financial services across Meta with five new BCs. So far, the new correspondent in Mesetas (Meta) has already started providing financial services and the remaining (Puerto Rico, Lejanías, Fuente de Oro and La Macarena (Meta)) are expected to open throughout FY17. The work plan also contemplates a pilot to test innovative channels with its mobile officers, seeking to improve money collection capabilities through tablets and portable printers that would enable processing customer credit applications on-site. Furthermore, Congente is a key institution for the Initiative since it will allow RFI to perform women’s empowerment activities on financial topics in Meta. During FY16, the Initiative met with Congente, UNWomen and Gobernación del Meta to discuss the implementation of a new a credit product and a campaign to prevent violence against women.

RFI carries out training workshops with Congente and its staff.

Photo: RFI



9. Crezcamos: RFI and Crezcamos formalized commitments to expand coverage and services in 47 RFI municipalities in Montes de Maria, Sur de Tolima, and Meta. For the Initiative, Meta is particularly important for its large indigenous populations and the prevalent lack of financial services in the region. To this end, in FY16 RFI has supported this expansion effort with two new offices in Puerto López and Puerto Gaitán which are scheduled to open in April and June 2017, respectively. Moreover, as counterpart Crezcamos is financing the opening of a service point (a two staff small office) in Cumaral, this brings the number of offices opened in Meta to three. The Cumaral office is scheduled to open in April 2017. In preparation for the branch openings, the Initiative has provided TA to Crezcamos in three main areas: i) Information gathering in Puerto López,

Puerto Gaitán, and Cumaral including demographics, potential market, financial services available, financial intermediaries, economy, infrastructure, among other.

ii) Liaison with Caja de Compensacion in Meta, which by law maintains a local job-opportunities database that can provide a source of CVs to meet the staffing needs for the new branches.

iii) Inventory of producer associations, value chains, as well as individual producers and entrepreneurs that represent potential demand of products and services of the new branches.

A resulting product of this TA was the “Guide to Branch Opening” to be used freely during the process of selecting locations of new branches. The guide was used in the field work for the Arjona (Bolívar) branch, scheduled to open on October 14, 2016.

Crezcamos´ new advisors ready to offer services in Arjona (Bolivar), hired thanks to RFI´s financial support. Photo: RFI



10. Bancamia: In FY16, the Initiative defined a work plan to assist participating FI Bancamia, a pioneer institution at providing microcredit and similar services tailored to vulnerable populations with already established small and micro business, both in urban and rural locations. In particular, it is of great relevance for RFI to have this institution as a partner given its almost 30 years’ experience in promoting financial inclusion in the country and current presence of 38 branches, 24 banking corresponds and 207 points of service (POS) that serve 193 RFI municipalities. In FY17, the Initiative will focus in providing TA on three specific areas: i) Improving the bank’s current service channels,

including innovative methodologies to boost savings as well as their rural and agricultural credit in its portfolio in order to continue the provision of attractive products to its clients.

ii) Developing a special credit for micro-business transitioning to small or medium enterprises (SMEs).

iii) Enhancing the banks gender and vulnerable population (GVP) strategy by prioritizing these groups as potential clients and revising their current financial education model.

11. Banco Mundo Mujer Popayán: During FY16, the RFI team has identified in participating FI Banco Mundo Mujer, a special interest in increasing their savings deposit volumes. To boost savings deposit volumes, both have developed a work plan which includes various incentive schemes to mobilize savings in large scale via innovative channels, e.g. banking correspondents, service points, and mobile agencies. This will be accompanied by different activities to strengthen its financial education program that will lead the institution to: i) Promote a better understanding of the

products through special mechanisms for each type of customers.

ii) Get customers to understand how to access different credit products and solutions tailored to their needs.

iii) Motivate the bank to better understand their clients, their needs and their limitations and adjust financial education programs accordingly.



12. Colpensiones: At present, Colpensiones is seeking to expand its Beneficios Económicos Personales (Personal Economic Benefits, BEPs in Spanish), which earmarks government money to match a percentage of personal pension contributions. RFI is tasked with assisting Colpensiones in developing a new strategy for expanding the number of clients on four fronts: i) implementing a commercial strategy through its current network of recruiting agents; ii) designing an incentive system to increase savings rate among clients; iii) disseminating financial education materials for new clients; and iv) promoting benefits of the BEPs program. As part of the strategy, RFI and Colpensiones have outlined a pilot program to be carried out in conjunction with at least four women’s associations in Caucasia, Valdivia, Tumaco and Montes de María with Narrar Para Vivir. 13. Coofisam: During FY16, the Huila-based Cooperativa de Ahorro y Crédito San Miguel (Coofisam) and RFI worked in improving Coofisam’s rural and agriculture credit as well as the implementation of a pilot on value chain finance. This assistance was of great value for the cooperative as it began expanding throughout Huila, Sur de Tolima and Caquetá. Expansion into Caquetá, in particular, was very important for RFI given the large indigenous population in the region and the prevalent lack of financial services, due in part to Colombia’s armed conflict. Among other services, Coofisam will implement savings groups and on-site collection through mobile banking. This expertise was used by RFI to carry out the first exchange visit among FI partners: Interactuar and Coofisam. Interactuar learned about Coofisam’s on-site savings collection. In return, Coofisam learned of Interactuar’s financial model to promote new entrepreneurs.



Non-Financial Intermediaries

1. Alquería: Alquería seeks to scale-up value chain finance among its providers. A mayor barrier identified is that milk producers lack access to credit for the acquisition of cows and improved technology. As a result, they are unable to obtain price premiums paid by Alquería for high-quality milk and expand production. During FY16, Alquería invited RFI to visit Pradera (Valle), where it currently implements its own finance scheme with local milk producers. The Initiative used this model to finance new producers under the value chain pilot in RFI regions. Terms and conditions are under negotiations with partners Banco Agrario and Congente. These RFI partners will work with Alquería in financing technology to increase productivity and purchase new cows to increase production.

2. NASA Community Project: In FY16, the Initiative started working with the NASA Community Project – an indigenous association located in the Cauca region comprising the townships of Toribío, Tacueyó and San Francisco. RFI’s TA focused on four main aspects: i) Strengthening the revolving funds the community

successfully manages to generate managerial and operational information.

ii) Developing a financial software tool to facilitate the operational and administrative management of the revolving funds.

iii) Designing and implementing a financial education model based on the community’s rights, culture and language.

iv) Supporting the community in processing credit transactions filed with Banco Agrario.

3. Banca de las Oportunidades: In FY16, RFI finalized

its plan to create a website, to be a mayor pillar of the Initiative’s dissemination strategy in the long run. Banca de las Oportunidades (BdO) emerged as the likely website partner, due to its mandate to promote financial inclusion and willingness to maintain a site beyond the Initiative’s five-year lifespan. Instead of creating a new website, the agreement was to renovate BdO’s existing one. To do so, the Initiative hired a consultant to redesign the site. Information to contain includes best practices on financial inclusion, success stories, policy changes and innovation among. The work is expected to be ready in FY17 Q1.



4. Compañía Nacional de Chocolates: Many cocoa organizations buy directly from smaller producers but often lack financial resources to buy the level of production required. Nacional de Chocolates seeks to expand cash advances to individual producers and liquidity to associations, enabling them to meet purchase orders.

RFI is under negotiation with Banco Agrario, Davivienda and Bancompartir to finance Nacional de Chocolates as part of the pilot on VCF. The pilot is programed to start in October this year.

5. FINAGRO: During FY16, the Initiative identified two strategic opportunities for collaboration with government entity Fondo para el Financiamiento del Sector Agropecuario (FINAGRO). Since September 2015, RFI has assisted FINAGRO on two main areas:

i) Microfinance Fund: As FINAGRO approved its microfinance fund, in FY16 RFI supported the dissemination of this new financing instrument among unregulated entities. The Initiative designed a pilot with Crezcamos and Interactuar to take place in FY17. This will be the first time FINAGRO tests the fund.

ii) Rural and agricultural microcredit for regulated entities. This credit line has garnered only limited success since its launch in 2014. The high costs resulted in only few large FIs applying to Finagro´s rediscount lines. As originally designed, procedures were too complex that large FIs were the only ones able to invest major resources in adapting operational systems, shutting out smaller entities like Banco Mundo Mujer, Bancompartir, Opportunity and Bancamia. The Initiative’s TA focused in reviewing the funding policies, streamlining the procedures and recommend adjustments to make the fund more attractive to smaller intermediaries. RFI and FINAGRO reached out to Bancamía and Banco Mundo Mujer to brief them on the new features, which resulted in the participation of both entities.

6. Narrar Para Vivir: The Initiative started a promising collaboration with Narrar Para Vivir a victims’ organization with a 15-year track record in Montes de Maria. In FY16 the Initiative identified four major opportunities between the association and financial partners: i) Bancompartir began offering loans to Narrar Para Vivir

under the mandatory special credit line for victims. ii) Colpensiones will use the association as a promoter of the

BEPs program. iii) Financiera Opportunity will also use the association as a

promoter of savings, credit and other financial services on behalf of the institution.

Bancompartir and its “Financial doctors” advice women from Narrar Para Vivir in Montes de María. Photo: RFI



7. Universidad de Antioquia: In FY16, the Initiative with its partner Universidad de Antioquia agreed on the provision of a 12-week microfinance diploma, an ambitious bid to build capacity by training local youth as potential credit advisors. Interested candidates needed to demonstrate a strong interest in social issues, ability with numbers and a facility to work with people among other competencies.

The beneficiaries of this first training sessions were originally from Caucasia, Yarumal and Tumaco. In total 137 people were trained, including staff members from partner FI Interactuar, Comcacaot and Mujeres de Corazón (Valdivia, Antioquia).

So far, Bancompartir has hired three participants to become credit officers and Interactuar has also hired two. Currently, RFI is documenting lessons learned from this first experience and potential for replicability in other regions.

8. Fundación Bavaria: RFI and Fundación Bavaria have executed a MOU and are currently working on developing a work plan.

Synergies

The Initiative has also been actively seeking how to best create relevant synergies with relevant stakeholders in Colombia. These synergies are done without signing MoU but still provide RFI with additional means to further improve financial access in rural areas.

Universidad de Antioquia launches its diploma program on microfinance

in Caucasia (Antioquia). Photo: RFI



1. Banco de la República: In FY16, the Initiative supported a study carried out by Banco de la República in collaboration with Universidad de Ibague, addressing the current state of financial inclusion in rural Tolima.

For the first time, a research study of this nature has entirely focused on the rural sector. The research covered Ataco, Planadas and Rio Blanco, all municipalities heavily affected by the Colombian internal conflict. The objective was to understand from a demand point of view the existing barriers to accessing financial services.

The information-gathering was conducted by last-semester students from Universidad de Ibague. RFI provided training on financial topics in preparation for the field visits. Having students from the region made it easier to generate trust and thereby reduced the locals’ reluctance to provide information. The Initiative is co-financing two academic events on FY17 Q1-Q2 to disseminate the study’s main findings among other universities, national stakeholders and financial institutions.

2. Alta Consejería para Post-Conflicto: In FY16 the Initiative was approached by the Alta Consejería para Post-Conflicto, Derechos Humanos y Seguridad for recommendations on financial inclusion in the post – conflict scenario. Topics of discussion include the role of Banco Agrario and private financial banks in the provision of financial services and products for displaced, demobilized and reinserted populations, in particular, and rural population in general. Products discussed included reconstruction of credit history, new enterprise financing, agricultural credit and group lending.

Representatives from Banco de la República, USAID, and financial institutions as well as local authorities from Sur del Tolima gather in the Special Coffee Fair in Planadas (Tolima). Photo: RFI


Grants

IV. Grants Incentive Grants Most work plans contain RFI financial support to participating FIs through Incentive Grants. These grants, which follow a separate approval process, were designed as incentives for FIs extending their presence to remote, conflict ridden municipalities. In Year 1, incentive grants were approved to eight FIs for a total amount of USD$1,273,938; funds leveraged amounted to USD$4,046,403. They financed, among other activities, 19 new banking correspondents and 7 branches in 25 RFI municipalities. Figure 8 below shows the consolidated amount of Incentive and leveraged funds:

Figure 8. FY16 Consolidated Incentive Grants and Leverage Funds

No. FY16 Incentive Grants Grant

Awarded (USD)

Leverage Funds (USD)

TOTAL $ 1,273,938 $ 4,046,403

* The grants have a leverage ratio of 1:3

Challenge Grants Challenge Grants were designed to test and scale innovations in financial products, services, methodologies and technologies with the potential to expand outreach to vulnerable population groups in rural, isolated municipalities. In FY16, the Initiative developed terms of reference (TOR) for launching two different annual program statements (APS):

i) Closed invitation for USD$ 1 million to participating FIs. This invitation looks for innovation projects already identified by participating partners that can quickly generate RFI’s expected results.

ii) Open invitation for USD$ 1 million open to all kinds of entities (private, NGOs, universities, technology firms, civil society, etc.). This invitation pursues to finance proposals on innovation that are best aligned with RFI’s objectives.

The Initiative contacted USAID’s Development Lab to discuss relevant issues on the evaluation and follow-up stages as well as sustainability, copyrights and potential risks in the implementation.


Other Accomplishments

V. Other Accomplishments Local Partner During FY16 the Initiative launched a competitive process to select up to two local partners with the purpose to build local capacity and work with RFI in the provision of technical assistance to participating financial institutions. In this regard, the role of the local partners include the following: i) Secure a pool of short-term consultants to provide on-demand TA (e.g. agricultural credit, rural credit, savings, MSME credit, insurances and channels); ii) Implement work orders assigned by the RFI team and meet deliverables defined therein; iii) Participate in events organized by RFI, share experiences and lessons learned along the Initiative’s lifespan. Fundación de Asociaciones Petroleras (AFP) and Emprender, two non-profit institutions, were selected as local partners. Both have strong presence and local knowledge in the corridors. Illustrative activities to be undertaken by RFI are summarized as follows:

i) Train the local partners and their consultants on the Initiative’s main components, implementing methodology, and FIs work plans’ main targets and activities.

ii) Secure participation of the partners field and managerial staff in any internal training that the RFI team receives (e.g. gender-sensitive activities, value chain financing). The managerial staff will participate also in periodic strategic meetings with RFI and USAID.

iii) Provide administrative and financial capacity building to the partners in managing a USAID subcontract, as needed.

iv) Monitor on a monthly basis the activities performed by the partner to ensure work quality and achievement of targets. An annual evaluation is scheduled to be performed by year end.

v) Build the capacity of the local partners by transferring guides, manuals, training modules, communication materials, and other tools to allow for continued support of financial services after the life of RFI.

Exchange Visits

During FY16, the Initiative sponsored two exchange visits to share best practices among participating intermediaries. Coofisam and Interactuar. Coofisam visited Interactuar to learn about its entrepreneurship financing model. For many years, Interactuar has been considered a pioneer in promoting entrepreneurship across Antioquia. A second phase will take place in FY17 Q1, when Interactuar will visit Coofisam to learn about the on-site collection channel successfully implemented by the cooperative.

Ingrid Turbay, Interactuar´s Credit Officer explaining to members of Coofisam how credit applications are reviewed

Photo: RFI


Annexes

VI. Annexes Annex 1: RFI Target Municipalities by Economic Corridor

Economic Corridor

Comprised Departments Comprised Municipalities Number of

Municipalities

Montes de María

Bolívar Arjona, Cicuco, Córdoba, El Carmen de Bolívar, El Guamo, Magangué, Mahates, Maria la Baja, Mompós, San Jacinto, San Juan Nepomuceno, Talaigua Nuevo, Turbaco, Turbana, Zambrano

15

33 Magdalena Plato, Santa Ana 2

Sucre Betulia, Buenavista, Chalan, Coloso, Corozal, El Roble, Galeras, Los Palmitos, Morroa, Ovejas, Palmito, Sampués, San Onofre, San Pedro, Sincé, Toluviejo.

16

Bajo Cauca Antioqueño -

Sur de Córdoba

Antioquia

Angostura, Anorí, Apartadó, Arboletes, Briceño, Cáceres, Campamento, Carepa, Caucasia, Chigorodó, El Bagre, Ituango, Mutatá, Nechí, Necoclí, San Andrés de Cuerquía, San José de La Montaña, San Juan de Urabá, San Pedro de Urabá, Santa Rosa De Osos, Tarazá, Toledo, Turbo, Valdivia, Yarumal, Zaragoza

26

55

Cordoba

Ayapel, Buenavista, Canalete, Cereté, Chimá, Chinú, Ciénaga de Oro, Cotorra, La Apartada, Lorica, Los Córdobas, Momil, Moñitos, Montelibano, Planetarica, Pueblo Nuevo, Puerto Escondido, Puerto Libertador, Purísima, Sahagún, San Andrés de Sotavento, San Antero, San Bernardo del Viento, San Carlos, San Jose de Ure, San Pelayo, Tierralta, Tuchín, Valencia

29

Sur del Tolima

Huila Aipe, Baraya, Colombia, Tello, Villavieja 5

19 Tolima

Ataco, Chaparral, Coyaima, Espinal, Guamo, Natagaima, Ortega, Planadas, Prado, Purificación, Rioblanco, Roncesvalles, Saldaña, San Antonio

14

Cauca - Sur del Valle del Cauca

Cauca Buenos Aíres, Caldono, Caloto, Corinto, Guachené, Jambaló, Miranda, Morales, Padilla, Piendamó, Puerto Tejada, Santander de Quilichao, Silvia, Suárez, Toribio, Villa Rica

16 20

Valle del Cauca Candelaria, Florida, Jamundí, Pradera 4

Caquetá

Caquetá Belen de los Andaquíes, Cartagena del Chaira, El Doncello, La Montañita, Morelia, Paujil, Puerto Rico, San José del Fragua, San Vicente del Caguán

9

40

Huila

Acevedo, Agrado, Algeciras, Altamira, Campoalegre, Elías, Garzón, Gigante, Guadalupe, Hobo, Iquira, Isnos, La Argentina, La Plata, Nátaga, Oporapa, Paicol, Palermo, Palestina, Pital, Pitalito, Rivera, Saladoblanco, San Agustín, Santa Maria, Suaza, Tarqui, Teruel, Tesalia, Timaná, Yaguará

31

Meta Meta

Acacías, Barranca de Upía, Cabuyaro, Castilla la Nueva, Cubarral, Cumaral, El Calvario, El Castillo, El Dorado, Fuente de Oro, Granada, Guamal, La Macarena, Lejanias, Mapiripán, Mesetas, Puerto Concordia, Puerto Gaitán, Puerto Lleras, Puerto López, Puerto Rico, Restrepo, San Carlos de Guaroa, San Juan de Arama, San Juanito, San Martín, Uribe, Vista Hermosa

28 28

Tumaco Nariño Francisco Pizarro, Tumaco 2 2


Annexes

Annex 2: Q3-Q4 FY16 Target Achievements

No.

Indicator Description

Unit

LOP Goal

2016 (AWP target)

Q3FY'16

Q4FY´16

Cumm. 2016

% Cumm. 2016

Total FY 16

% Total Goal

RFI-01

Total number of clients benefiting from financial services provided through USG-assisted financial intermediaries, including nonfinancial institutions or actors

Number of clients 200.000 10.000 6.593 33.143 39.736 397% 39.736 20%

RFI-02

Number of active clients (Number of clients with active financial services from participating financial intermediaries)

Number of active clients

112.500 6.000 6.572 39.447 39.447 657% 39.447 35%

RFI-03

Total value of financial services (including loans, savings, insurance, remittances, payments and/or transactions), of which 90% are loans (*)

$ USD $ 500.000.000 $ 12.000.000 $ 4.209.737 $

103.166.675 $

107.376.413 895%

$ 107.376.413

21% $ COP

$ 1.455.845.000.0

00

$ 34.940.280.

000

$ 12.257.450.

345

$ 298.163.039.

873

$ 310.420.490.

219

$ 310.420.490.

219

RFI-04 Value of rural and agricultural loans (*)

$ USD $ 450.500.000 $ 10.800.000 $ 3.842.697 $ 98.232.545 $

102.075.242 945%

$ 102.075.242

23% $ COP

$ 1.311.716.345.0

00

$ 31.446.252.

000

$ 11.188.741.

736

$ 283.902.860.

722

$ 295.091.602.

458

$ 295.091.602.

458

RFI-05 Outstanding portfolio (*)

$ USD $ 210.000.000 $ 6.400.000 $ 3.796.264 $ 95.019.151 $ 95.019.151

1485%

$ 95.019.151

45% $ COP

$ 611.454.900.00

0

$ 18.634.816.

000

$ 11.053.542.

621

$ 274.615.797.

157

$ 274.615.797.

157

$ 274.615.797.

157

RFI-06

Portfolio at risk (outstanding portfolio for all loans in arrears over 30 days, plus refinanced or restructured loans, divided by the overall outstanding portfolio)

Percentage 5% 8% 0% 0,24% 0,24% 0,24% 0,24% 0,24%

RFI-07

Percentage of women participants in USG-assisted programs designed to increase access to productive financial resources

Percentage 50% 50% 52% 53% 53% 53% 53% 53%

RFI-08

Value of resources leveraged from private and public sources attributed to USG support (*)

$ USD $ 11.000.000 $ 1.100.000 $ 132.073 $ 573.931 $ 706.004

64%

$ 706.004

6% $ COP $

32.028.590.000

$ 3.202.859.0

00

$ 384.556.18

6

$ 1.658.724.20

6

$ 2.043.280.39

2

$ 2.043.280.39

2


Annexes

RFI-09

Number of gender and social inclusion-related mechanisms, including financial and non-financial instruments, with differentiated approaches for women, Afro-Colombians and indigenous populations, persons with disabilities, etc.

Number 10 0 0 0 0 n.a 0 0%

RFI-10

Number of adjustments and/or proposed regulatory adjustments supported by the RFI Initiative and related to financial services and products

Number of

adjustments

and/or proposal

s

5 0 0 0 0 n.a 0 0%

RFI-11

Number of communication pieces produced and disseminated related to financial products and services, financial education, and/or lessons learned

Number of

communication pieces

20 3 5 1 6 200% 6 30%

(*) Financial institutions will send RFI the information in Colombian pesos, and RFI will convert to USD. The local currency will be converted to U.S. dollars at the average market foreign exchange rate for the reporting period using the US Treasury Exchange Rate for the last day of that reporting period (which can be consulted at https://www.fiscal.treasury.gov/fsreports/rpt/treasRptRateExch/currentRates.htm).


Annexes

Annex 3: Clients by Corridor and Ethnicity

Corridor Department Municipality Total Clients

Afro-Colombian

Indigenous

Mestizo

Afro-Colombian %

Indigenous %

Mestizo %


Antioquia Angostura 17 4 0 13 23,28% 0,00% 76,72%


Antioquia Anorí 8 0 0 8 3,70% 0,19% 96,09%


Antioquia Apartadó 815 327 5 482 40,17% 0,61% 59,20%


Antioquia Arboletes 237 79 5 153 33,35% 2,26% 64,37%


Antioquia Briceño 30 4 0 26 11,82% 0,00% 88,18%


Antioquia Cáceres 179 49 4 127 27,16% 2,09% 70,73%


Antioquia Campamento 70 0 0 70 0,41% 0,15% 99,41%


Antioquia Carepa 225 75 0 149 33,53% 0,20% 66,25%


Annexes


Antioquia Caucasia 1225 121 14 1.091 9,85% 1,10% 89,04%


Antioquia Chigorodó 425 162 15 248 38,02% 3,60% 58,38%


Antioquia El Bagre 519 107 10 402 20,59% 2,02% 77,39%


Antioquia Ituango 99 3 1 95 2,85% 1,24% 95,91%


Antioquia Mutatá 168 25 23 120 14,96% 13,57% 71,45%


Antioquia Nechí 105 37 0 67 35,54% 0,28% 64,16%


Antioquia Necoclí 280 164 10 106 58,69% 3,49% 37,79%


Antioquia San Andrés de Cuerquía 7 0 0 7 5,08% 0,09% 94,82%


Antioquia San José de la Montaña 1 0 0 1 0,42% 0,13% 99,45%


Antioquia San Juan de Urabá 135 116 2 17 86,11% 1,42% 12,45%


Annexes


Antioquia San Pedro de Urabá 671 46 7 618 6,79% 1,08% 92,12%


Antioquia Santa Rosa de Osos 493 79 0 414 16,04% 0,03% 83,91%


Antioquia Tarazá 321 28 1 292 8,70% 0,26% 91,01%


Antioquia Toledo 0 0 0 0,70% 0,00% 99,30%


Antioquia Turbo 1033 835 14 184 80,81% 1,33% 17,82%


Antioquia Valdivia 233 10 0 223 4,40% 0,00% 95,60%


Antioquia Yarumal 530 10 0 520 1,91% 0,04% 98,05%


Antioquia Zaragoza 399 152 27 220 38,04% 6,65% 55,26%


Córdoba Ayapel 156 38 7 111 24,12% 4,49% 71,33%


Córdoba Buenavista 159 13 4 142 8,03% 2,82% 89,15%


Annexes


Córdoba Canalete 29 0 0 29 0,56% 0,01% 99,43%


Córdoba Cereté 301 23 1 276 7,69% 0,46% 91,83%


Córdoba Chimá 55 1 40 14 2,27% 72,90% 24,83%


Córdoba Chinú 172 5 70 97 2,96% 40,51% 56,52%


Córdoba Ciénaga de Oro 211 1 21 189 0,65% 9,78% 89,56%


Córdoba Cotorra 11 3 1 8 22,77% 6,72% 70,47%


Córdoba La Apartada 31 0 7 24 0,35% 21,43% 78,19%


Córdoba Lorica 911 164 31 716 18,01% 3,42% 78,55%


Córdoba Los Córdobas 58 16 0 42 27,90% 0,41% 71,69%


Córdoba Momil 130 1 74 55 0,95% 56,93% 42,13%


Annexes


Córdoba Montelíbano 960 179 29 752 18,65% 3,00% 78,34%


Córdoba Moñitos 136 101 0 35 74,10% 0,30% 25,57%


Córdoba Planeta Rica 681 36 6 639 5,27% 0,87% 93,86%


Córdoba Pueblo Nuevo 125 25 47 53 20,28% 37,54% 42,17%


Córdoba Puerto Escondido 99 81 6 12 81,41% 6,14% 12,40%


Córdoba Puerto Libertador 144 2 18 124 1,50% 12,35% 86,14%


Córdoba Purísima 121 9 41 71 7,22% 33,68% 59,07%


Córdoba Sahagún 503 25 23 455 4,97% 4,48% 90,53%


Córdoba San Andrés Sotavento 188 1 178 9 0,35% 94,70% 4,95%


Córdoba San Antero 132 83 20 29 62,76% 15,39% 21,83%


Annexes


Córdoba San Bernardo del Viento 180 122 4 54 67,85% 2,20% 29,93%


Córdoba San Carlos 29 0 0 29 0,46% 0,08% 99,44%


Córdoba San José de Uré 60 0 0 60 0,46% 0,08% 99,44%


Córdoba San Pelayo 159 12 2 145 7,60% 1,27% 91,07%


Córdoba Tierralta 324 86 17 221 26,49% 5,28% 68,19%


Córdoba Tuchín 67 5 1 61 7,60% 1,27% 91,07%


Córdoba Valencia 253 18 0 234 7,26% 0,05% 92,66%

Caquetá Caquetá Belén de los Andaquíes 20 0 0 19 0,71% 2,26% 97,03%

Caquetá Caquetá Cartagena del Chairá 54 1 0 52 2,61% 0,54% 96,84%

Caquetá Caquetá El Doncello 159 3 0 155 2,12% 0,16% 97,72%

Caquetá Caquetá El Paujil 30 0 0 30 0,37% 0,34% 99,29%

Caquetá Caquetá La Montañita 24 3 0 21 13,08% 0,29% 86,63%

Caquetá Caquetá Morelia 18 0 0 18 0,67% 0,50% 98,83%

Caquetá Caquetá Puerto Rico 183 11 4 168 5,82% 2,14% 92,04%

Caquetá Caquetá San José del Fragua 51 1 2 48 1,14% 3,76% 95,09%


Annexes

Caquetá Caquetá San Vicente del Caguán 343 1 2 341 0,21% 0,44% 99,35%

Caquetá Huila Acevedo 320 47 2 271 14,61% 0,67% 84,72%

Caquetá Huila Agrado 32 0 0 32 0,14% 0,20% 99,66%

Caquetá Huila Algeciras 279 0 0 279 0,07% 0,02% 99,91%

Caquetá Huila Altamira 8 0 0 8 0,19% 0,08% 99,72%

Caquetá Huila Campoalegre 207 5 0 202 2,34% 0,10% 97,56%

Caquetá Huila Elías 6 0 0 6 0,09% 0,06% 99,85%

Caquetá Huila Garzón 545 2 0 543 0,39% 0,06% 99,55%

Caquetá Huila Gigante 213 0 6 207 0,06% 2,95% 96,99%

Caquetá Huila Guadalupe 158 0 0 158 0,21% 0,03% 99,76%

Caquetá Huila Hobo 59 0 0 59 0,51% 0,03% 99,46%

Caquetá Huila Iquira 99 0 16 82 0,43% 16,34% 83,23%

Caquetá Huila Isnos 212 0 4 208 0,11% 1,81% 98,08%

Caquetá Huila La Argentina 135 0 8 127 0,33% 5,56% 94,12%

Caquetá Huila La Plata 796 3 33 760 0,39% 4,16% 95,45%

Caquetá Huila Nátaga 62 0 4 58 0,62% 6,35% 93,03%

Caquetá Huila Oporapa 16 0 0 16 0,05% 0,16% 99,79%

Caquetá Huila Paicol 34 0 0 34 0,12% 0,79% 99,09%

Caquetá Huila Palermo 218 0 0 218 0,07% 0,02% 99,91%

Caquetá Huila Palestina 25 0 2 23 0,66% 6,06% 93,28%

Caquetá Huila Pital 50 0 0 50 0,37% 0,31% 99,31%

Caquetá Huila Pitalito 1505 34 12 1.459 2,26% 0,81% 96,93%

Caquetá Huila Rivera 91 0 0 90 0,34% 0,23% 99,42%

Caquetá Huila Saladoblanco 189 0 0 189 0,06% 0,14% 99,80%

Caquetá Huila San Agustín 455 3 8 444 0,57% 1,77% 97,66%

Caquetá Huila Santa María 92 3 5 84 3,11% 5,07% 91,82%

Caquetá Huila Suaza 60 0 0 60 0,08% 0,10% 99,82%


Annexes

Caquetá Huila Tarqui 287 2 0 285 0,73% 0,01% 99,26%

Caquetá Huila Teruel 59 1 0 58 1,26% 0,20% 98,55%

Caquetá Huila Tesalia 59 0 1 58 0,34% 0,90% 98,76%

Caquetá Huila Timaná 264 3 2 259 1,09% 0,74% 98,17%

Caquetá Huila Yaguará 67 0 0 67 0,05% 0,00% 99,95%

Meta Meta Acacías 605 6 0 599 0,97% 0,08% 98,94%

Meta Meta Barranca de Upía 235 4 1 229 1,89% 0,62% 97,46%

Meta Meta Cabuyaro 72 2 1 69 3,22% 1,20% 95,57%

Meta Meta Castilla la Nueva 24 0 0 24 1,12% 0,03% 98,86%

Meta Meta Cubarral 3 0 0 3 0,19% 0,19% 99,61%

Meta Meta Cumaral 33 1 0 32 3,43% 0,14% 96,43%

Meta Meta El Calvario 1 0 0 1 0,31% 0,00% 99,69%

Meta Meta El Castillo 5 0 0 5 0,70% 0,13% 99,17%

Meta Meta El Dorado 4 0 0 4 0,03% 0,03% 99,94%

Meta Meta Fuente de Oro 29 0 0 29 1,20% 0,13% 98,67%

Meta Meta Granada 940 22 4 915 2,30% 0,37% 97,31%

Meta Meta Guamal 124 1 0 123 0,74% 0,12% 99,13%

Meta Meta La Macarena 4 0 0 4 0,97% 0,19% 98,84%

Meta Meta Lejanías 13 4 0 9 28,15% 0,45% 71,39%

Meta Meta Mapiripán 5 0 0 5 8,89% 0,81% 90,30%

Meta Meta Mesetas 2 0 0 2 6,88% 4,75% 88,35%

Meta Meta Puerto Concordia 18 1 1 16 5,50% 3,38% 91,11%

Meta Meta Puerto Gaitán 201 2 71 129 0,81% 35,15% 64,02%

Meta Meta Puerto Lleras 11 0 0 11 1,25% 0,11% 98,63%

Meta Meta Puerto López 116 2 3 111 1,30% 2,81% 95,88%

Meta Meta Puerto Rico 5 0 0 5 2,93% 0,54% 96,52%

Meta Meta Restrepo 20 1 0 19 5,32% 0,31% 94,37%


Annexes

Meta Meta San Carlos de Guaroa 46 4 0 42 9,36% 0,09% 90,55%

Meta Meta San Juan de Arama 12 0 0 12 0,74% 0,26% 99,00%

Meta Meta San Juanito 1 0 0 1 0,16% 0,05% 99,79%

Meta Meta San Martín 143 0 0 143 0,16% 0,08% 99,76%

Meta Meta Uribe 0 0 0 0,42% 1,85% 97,73%

Meta Meta Vistahermosa 359 10 1 347 2,86% 0,38% 96,75%

Montes De María Bolívar Arjona 271 5 0 266 1,79% 0,15% 98,05%

Montes De María Bolívar Cicuco 86 56 0 30 64,60% 0,06% 35,32%

Montes De María Bolívar Córdoba 138 13 0 125 9,66% 0,00% 90,34%

Montes De María Bolívar El Carmen de Bolívar 713 1 1 711 0,18% 0,10% 99,72%

Montes De María Bolívar El Guamo 36 0 0 36 0,06% 0,00% 99,94%

Montes De María Bolívar Magangué 1532 235 1 1.296 15,33% 0,04% 84,62%

Montes De María Bolívar Mahates 159 48 0 92 30,02% 0,22% 57,95%

Montes De María Bolívar Maria la Baja 381 370 1 10 97,10% 0,20% 2,67%

Montes De María Bolívar Mompos 550 41 0 509 7,44% 0,01% 92,53%

Montes De María Bolívar San Jacinto 130 10 0 120 7,64% 0,05% 92,31%


Annexes

Montes De María Bolívar San Juan Nepomuceno 320 29 0 290 9,21% 0,07% 90,67%

Montes De María Bolívar Talaigua Nuevo 139 12 0 127 8,67% 0,06% 91,27%

Montes De María Bolívar Turbaco 202 42 0 160 20,76% 0,06% 79,10%

Montes De María Bolívar Turbana 27 0 0 27 0,09% 0,01% 99,89%

Montes De María Bolívar Zambrano 82 1 0 81 1,27% 0,06% 98,67%

Montes De María Magdalena Plato 792 5 1 787 0,58% 0,09% 99,33%

Montes De María Magdalena Santa Ana 363 2 0 361 0,52% 0,07% 99,40%

Montes De María Sucre Betulia 33 0 0 33 0,45% 0,00% 99,55%

Montes De María Sucre Buenavista 59 1 0 58 1,20% 0,01% 98,76%

Montes De María Sucre Chalán 0 0 0 0,44% 0,18% 99,38%

Montes De María Sucre Colosó 6 0 0 6 0,13% 3,23% 96,62%

Montes De María Sucre Corozal 681 28 3 649 4,16% 0,47% 95,36%

Montes De María Sucre El Roble 119 12 0 107 10,34% 0,05% 89,61%


Annexes

Montes De María Sucre Galeras 99 1 0 98 0,56% 0,04% 99,40%

Montes De María Sucre Los Palmitos 129 0 1 128 0,15% 0,81% 99,04%

Montes De María Sucre Morroa 122 8 1 113 6,49% 0,46% 93,01%

Montes De María Sucre Ovejas 346 24 0 321 7,07% 0,01% 92,90%

Montes De María Sucre Palmito 63 0 53 10 0,75% 83,77% 15,47%

Montes De María Sucre Sampués 327 1 176 150 0,34% 53,71% 45,84%

Montes De María Sucre San Onofre 424 397 9 17 93,72% 2,23% 4,03%

Montes De María Sucre San Pedro 67 1 0 66 1,39% 0,01% 98,61%

Montes De María Sucre Sincé 151 10 0 141 6,57% 0,01% 93,43%

Montes De María Sucre Toluviejo 45 2 13 30 4,80% 29,50% 65,70%

Norte Del Cauca - Sur Del Valle Del Cauca

Cauca Buenos Aíres 19 13 3 3 68,22% 16,19% 15,56%


Cauca Caldono 40 0 28 12 0,47% 69,85% 29,68%


Annexes


Cauca Caloto 33 20 8 5 61,36% 22,80% 15,83%


Cauca Corinto 103 28 45 30 26,76% 43,34% 29,45%


Cauca Guachené 0 0 0 68,22% 16,19% 15,56%


Cauca Jambaló 0 0 0 0,12% 96,00% 3,88%


Cauca Miranda 34 17 6 11 51,39% 17,01% 31,59%


Cauca Morales 212 13 91 108 6,15% 42,84% 51,00%


Cauca Padilla 22 21 0 1 93,50% 0,69% 5,81%


Cauca Piendamó 310 6 43 260 2,09% 14,03% 83,88%


Annexes


Cauca Puerto Tejada 44 43 0 1 97,26% 0,12% 2,61%


Cauca Santander de Quilichao 534 177 103 254 33,13% 19,35% 47,52%


Cauca Silvia 37 0 29 8 0,15% 79,55% 20,31%


Cauca Suárez 33 19 7 7 57,88% 21,08% 20,99%


Cauca Toribío 53 0 50 3 0,22% 94,82% 4,96%


Cauca Villa Rica 1 1 0 0 95,95% 0,24% 3,74%


Valle del Cauca Candelaria 79 42 0 37 52,84% 0,15% 47,01%


Valle del Cauca Florida 70 22 3 45 31,06% 4,70% 64,23%


Annexes


Valle del Cauca Jamundí 103 61 1 41 59,44% 0,81% 39,73%


Valle del Cauca Pradera 84 26 1 57 30,83% 0,96% 68,20%

Sur De Tolima Huila Aipe 58 0 0 58 0,16% 0,06% 99,78%

Sur De Tolima Huila Baraya 16 0 0 16 2,82% 0,02% 97,13%

Sur De Tolima Huila Colombia 6 0 0 6 0,08% 0,00% 99,92%

Sur De Tolima Huila Tello 99 0 0 99 0,07% 0,13% 99,79%

Sur De Tolima Huila Villavieja 26 0 1 25 0,40% 2,32% 97,28%

Sur De Tolima Tolima Ataco 221 33 8 180 14,74% 3,62% 81,60%

Sur De Tolima Tolima Chaparral 487 1 25 462 0,13% 5,07% 94,80%

Sur De Tolima Tolima Coyaima 19 0 14 5 0,06% 75,87% 24,08%

Sur De Tolima Tolima Espinal 683 8 1 675 1,11% 0,13% 98,76%

Sur De Tolima Tolima Guamo 106 1 2 103 0,78% 1,96% 97,25%

Sur De Tolima Tolima Natagaima 76 0 33 42 0,12% 43,97% 55,90%

Sur De Tolima Tolima Ortega 288 0 125 163 0,08% 43,49% 56,43%

Sur De Tolima Tolima Planadas 194 7 11 176 3,40% 5,82% 90,76%

Sur De Tolima Tolima Prado 47 0 0 47 0,05% 0,16% 99,76%


Annexes

Sur De Tolima Tolima Purificación 150 0 0 150 0,08% 0,13% 99,79%

Sur De Tolima Tolima Rioblanco 21 0 1 20 0,93% 2,75% 96,31%

Sur De Tolima Tolima Roncesvalles 121 0 0 121 0,02% 0,02% 99,95%

Sur De Tolima Tolima Saldaña 166 4 6 156 2,63% 3,67% 93,71%

Sur De Tolima Tolima San Antonio 100 0 12 88 0,10% 11,56% 88,34%

Tumaco Nariño Francisco Pizarro 1 1 0 0 90,04% 0,38% 9,57%

Tumaco Nariño Tumaco 1323 1.060 61 201 80,14% 4,59% 15,22%


Annexes

Annex 4: Corridor Maps


Annexes


Annexes


Annexes


Annexes


Annexes


Annexes

Annexes

Documents

RURAL FINANCE INITIATIVE Annual Report Year 1 August 2015