2008-2010

TOTAL COST: $3.2 MILLION

Implementing Partner: Oportunidad International Latinoamérica (OILA)

PROJECT OBJECTIVES: Opportunity International Canada has committed to raise $3.2 million to support the transition of Opportunity's existing operations in Colombia to a regulated finance Company in 2010.

Goal 1: Expand client outreach nationwide by opening a head office in Bogotá, four regional offices (Barranquilla, Medellín, Cali, and Villavicencio), and at least 50 delivery outlets throughout more rural areas of the country. The goal is to serve 190,000 clients with savings accounts, 95,000 clients with loans and have at least 500,000 lives covered by insurance.

Goal 2: During the transition period to a Finance Company (2008-2010), Opportunity International Canada will support the operations of OILA in Cartagena by opening Point of Service kiosks in the Departments of Bolívar and Magdalena, reaching a total of 7,425 loan recipients.

Goal 3: Deepen the transformational impact on the lives of clients by funding the Transformational Department of Opportunity International Colombia. Opportunity International Canada will fund two initiatives: a youth program (benefiting 150 youth) and a community program (including 25 loans for home improvement, known as "roof and floor loans", and 50 loans for water filters for the community).