For the past 6 years, DGRV has been working in Honduras together with FACACH, the Federation of Savings and Credit Cooperatives of Honduras Ltda. With this partner a large number of activities have already been carried out. Mainly, we support the financial sector and some of the tools developed by DGRV have already been implemented.
In 2018, DGRV started to implement the SEC (Qualitative Evaluation System). A tool that allows evaluating the reasonableness of the internal control system of cooperatives. Likewise, the “SPE” (Strategic Planning System), “SPF” (Financial Planning System) and the tool “MicroScore” were implemented. The last one is a microcredit scoring tool that allows reducing the credit risk of cooperatives, which has been very successful in some cooperatives.
Numerous events, seminars, workshops and joint trainings have been organized for and with FACACH. We have introduced a “Sustainable Finance” program and will continue to train our counterparts in different areas.
All activities are aimed at ensuring that cooperatives in Honduras can offer their members access to sustainable, secure and competitive financial services.
Out of a total of 85 savings and credit cooperatives affiliated to FACACH, Cooperative Social Balance has been implemented in 52 by the end of 2020. We have also successfully introduced the tool in our FACACH counterpart. Based on this large number of cooperatives already using the tool, it can be seen that Cooperative Social Balance is a success story in Honduras.
The aim is now to implement the tool in the remaining cooperatives before the end of the project phase in 2022, thus introducing the Cooperative Social Balance Sheet in a generalized manner in our counterpart FACACH and in the affiliated savings and credit cooperatives. In addition, our counterpart CONSUCOOP, the National Supervisory Council of Cooperatives also addresses the issue of the Cooperative Social Balance Sheet and integrates it as a standard.
In the end, the tool is developed and improved collectively, with the participation of our partners at different levels. Of course, the other DGRV tools (SEC, SPE, SPF, MicroScore) will continue to be applied in Honduras. We hope to be able to continue to create this Cooperative Social Balance success story with other tools as well.
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