Client: United States Agency for International Development

1999-2003

Under a subcontract with KPMG Barents, CARANA designed and implemented a three-year project to support the development of financial services for micro-entrepreneurs in Honduras. CARANA provided training and comprehensive technical assistance to Fundacion Covelo, an apex organization supporting an extensive network of micro-finance and enterprise development service providers. CARANA also directly assisted twelve NGOs and private banks in the areas of governance and policy, strategic planning, management systems and micro-credit methodologies. One of the key project components was the development of the country's legal/regulatory environment, including assistance with policy management and implementation of the new legislation. Additionally, CARANA developed micro-finance auditing and inspection policies and standards for the Honduran Banking and Insurance Commission. The project was carried out in close coordination with other organizations, including FINCA, Katalysis, and Central American Bank for Economic Integration. The project had a significant impact on the legal/regulatory environment for micro-finance and enterprise development and the quality of financial and technical support services at the wholesale and retail levels in Honduras.