General Information
The Micro Enterprise Development Fund – FODEMI-initiated its activities on May 15, 1995 as a non-profit organization authorized by the Ecuadorian Ministry of Labor. Its first projects were focused on direct attention to the beneficiaries of the World Vision’s Area Development Projects (ADPs), located in the northern region of the country. World Vision’s Coordination Office, at this time located in the city of Ibarra, held a meeting with people involved in areas of micro enterprise development, banking, and productive sectors, with the purpose of planning and organizing the creation of an organization which would work to improve the socio-economic life conditions among the classes with the greatest need. In this meeting, FODEMI’s statutes were structured and proposals were initiated which would encourage the productivity of those people living in the ADPs. Based on the ideal of economic and social community-based development, FODEMI was born. An organization restructuring process was started in July of 1997 with the purpose of obtaining better outcomes. World Vision staffers with skills in finances joined the Directory Board as part of the new structure. In that same year, the first FODEMI branch office was opened as a step towards the provision of credit inn sectors currently supported by World Vision. Since then, FODEMI has diversified its credit methodologies, expanded coverage of its services in the ADPs and urban zones, and encouraged loans focused on women who are heads of households in an effort to attend to a greater number of clients. With a vision of expansion and awareness of the deep poverty endured in the northern and central Andean region, FODEMI has opened offices in: May 1995 | Ibarra Matrix and Branch Office | April 1997 | Latacunga Branch Office | June 2000 | Otavalo Branch Office | March 2004 | San Gabriel Branch Office | January 2006 | Ambato Branch Office | March 2006 | Pimampiro Sales Point | September 2006 | Machachi Sales Point |
FODEMI’s matrix office is currently located in the city of Ibarra, next to the Ibarra Agency. The building’s modern features help us to provide efficient service to our clients. FODEMI has had great success in the last years, and has become a solid organization that supports the development of increasing numbers of clients. Thanks to the mission, vision, corporate values, and the commitment of FODEMI’s personnel, our clients feel better attended each day.
|
