There are more than 2,500 savings and credit cooperatives (SCC), and production and service cooperatives in the country, which contribute around 5% to the country’s GDP. There are secondary institutions, such as FACACH, the national SCC federation, to which 88 SCC with around 850,000 members are affiliated. Amongst these members are more than 50% women mainly from rural areas and many MSMEs. Furthermore, in FACACH there are also young members (14-25 years according to the UN definition) of cooperatives, they are organized in committees and to work with as a project´s target group,
The project’s activities in FACACH aim to improve the economic and political representation of the affiliated SCC and its members in order to make the sector more visible in legal initiatives and public funding programs in the future. In addition, the association is responsible for further training and human resource capability building within SCCs, which is to be better structured and systematized by setting up a training system. Furthermore, the project’s activities seek to expand, and qualitatively improve the administrative, financial, and institutional advice, including affiliated companies through consulting, training and the use of management tools. At the same time, a concept for sustainable financial products should be developed and implemented, which specifically promotes sustainable entrepreneurial initiatives, particularly for MSME-members.
The supervisory body CONSUCOOP has taken over the supervisory role for SCC since 2016, when the cooperative sector’s regulation was reformed. The review and improvement of prudential standards, the supervisory model and the supervisory processes were addressed last year as part of a structured advisory program and are to be continued.
The principal activities of DGRV’s project in Honduras can be summarized across sectors with the following topics:
FACACH is the integration and representation body of the savings and credit cooperatives in Honduras, committed to providing educational and technical financial solutions that meet the market requirements.
Autonomous and capital-owned Honduras Cooperative Control Authority.
The project in El Salvador is intended to contribute to financial inclusion in the country through its long-standing cooperation with FEDECACES (Federation of Savings and Credit Cooperatives), focusing on financial education, improved financial services and the continuous expansion of service points in the country. Unfortunately, in El Salvador the various cooperative sectors haven´t worked in […]More
Guatemala is one of the countries with the highest social and economic inequality in the world and a long-standing historical background of social exclusion. In the country, cooperatives make significant contributions towards reducing MSMEs and marginalized populations entry barriers to compete within the economic system. In addition, cooperatives provide their members with benefits according to […]More
Mexico is one of the priority countries in the DGRV’s project work in Latin America. Its marginalized population, which is to be given access to the formal economy through cooperatives, is mainly found in rural areas. For this reason, project activities are concentrated on rural and suburban regions in the states of Oaxaca, Chiapas, Michoacán […]More