The government of Mexico again shows its confidence in Développement international Desjardins



    LEVIS, QC, March 10 /CNW Telbec/ - In Mexico, the Secretariat for
Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA) has
once again shown its confidence in Développement international Desjardins by
awarding DID a new contract intended to improve access to sustainable
financial services adapted to the needs of those living in marginalized rural
areas.
    The financial cooperatives set up in Mexico since 2003 by DID in the
marginalized areas of Chiapas, Huasteca and Puebla have combined
resourcefulness and discipline, enabling them to adequately serve a poor and
mainly indigenous clientele while progressing towards profitability. These
institutions reach over 50,000 members, 56% of whom are women and 71% of whom
live in rural areas. The cooperatives in Chiapas and Huasteca are already
financially self sufficient while the newest institution, in the state of
Puebla, is making steady progress.
    This second phase of the two-year project, worth CAN $3.5 million,
targets consolidation of access to financial services in rural areas and
significantly increased membership among the poor. Specifically, it is hoped
that by the end of this DID contract the participating financial institutions
will have acquired 30,000 new members.
    During the project, management methods will be improved so that the
financial cooperatives can become licensed savings and credit institutions
under Mexican legislation. Capacity building for operators in these
institutions will therefore be an important component of the project. Finally,
the project will stimulate the establishment, strengthening and expansion of
financial cooperatives in rural areas.

    About DID

    Développement international Desjardins (DID) is a component of the
Desjardins Group, the largest integrated cooperative financial group in
Canada. For over 35 years, DID has been providing support for the creation,
development and strengthening of financial institutions and is now present in
twenty countries in Africa, Latin America, the Caribbean and Central and
Eastern Europe. DID, which specializes in providing technical support and
investment for community finance, draws on the rich and diverse experience
acquired through collaboration with numerous partners, and on the 100 years of
experience of the Desjardins Group. DID works in partnership with the Canadian
International Development Agency, the World Bank and other multilateral
organizations.


    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/




For further information:

For further information: Karina Lehoux, Communications Advisor,
Développement international Desjardins, (418) 835-2401, extension 5796,
klehoux@did.qc.ca; www.did.qc.ca

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DEVELOPPEMENT INTERNATIONAL DESJARDINS

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