Diaconia IFD

Diaconía IFD was established in 1991 as a project of the Norwegian Mission Alliance in Bolivia with the name Diaconía FRIF. It started with an office in the city of La Paz and expanded its operations in 1992 to the rural areas.

On the 9th September 2016, Diaconia received the licence as «FUNDACIÓN DIACONÍA ROTATIVO DE INVERSIÓN FOMENTO – INSTITUCIÓN FINANCIERA DE DESARROLLO», abbreviated to “Diaconia FRIF-IFD” from the regulator in Bolivia (ASFI). In 2020, Diaconía received the deposit-taking license from Bolivian authorities. The institutions' aim is to offer deposit-taking services from the first-half of 2021.

Since its foundation, DIACONÍA FRID-IFD has constantly grown with its credit operations and has now more than 900 employees and sixty-five (65) agencies offering financial intermediation services based on Christian guidelines and diaconal principles generating financial inclusion throughout the Bolivian territory.

Diaconia IFD offers a variety of credit products such as business loans, agricultural loans, loans for consumption, and housing loans. The credits may be granted for purposes like investments, operations, and transport equipment, and as mortgage loans or non-mortgage loans. Savings products have been offered for all customers through Diaconias digital platform since February 2023.

Diakonia IFD (diaconia.bo)

map-bolivia
Source: Encyclopedia Britannica, Inc.

Facts about Bolivia

  • Population: 12.4 million
  • 1.1 million square kilometers –> 28th largest country in the world
  • Government structure: unitary state with presidential system
  • GDP is approx. $45.8 billion USD
  • 36.4% live under the poverty line
    • Urban areas: 902 Bolivianos=$129.89 =1271.82 NOK per person/month
    • Rural areas: 638 Bolivianos=$91.87= 899.58 NOK per person/month
  • Main source of income:
    • Natural gas and mineral exports
    • Agriculture: soyabeans, quinoa