Banco Galicia and the Red Argentina de Instituciones de Microcréditos (Argentine Network of Microcredit Institutions – RADIM) have established an alliance to strengthen microfinance institutions throughout the country. In its latest CSR report, Banco Galicia states that ‘the promotion of access to credit for low-income sectors is a basic strategy to overcome poverty. As such, increasing opportunities for people who have been excluded from the traditional financial system is an indispensable investment to promote sustainable development.’
Banco Galicia and RADIM seek to provide loans to institutions that in turn provide microcredit to low-income individuals. Credit lines will establish or expand portfolios and will be used for working capital, self-employment activities and home improvement.