CARE promotes the development of local partner institutions, including banks, microfinance institutions, and community-based and non-governmental organizations. CARE's SEAD projects work to ensure that the poor to have access to credit and savings services and training by improving the technical and institutional capacity of local financial and non financial organizations to deliver these services.
In 1998, CARE Peru established EDYFICAR as a shareholder-based, regulated micro finance institution with branches throughout the country. CARE provided technical support in institutional structure, board development and systems development, as well as financial assistance. Today, CARE continues to support the institution through involvement in the Board of Directors and assistance in developing funding diversification strategies. Currently EDYFICAR serves 21,000 clients with multiple loan products and methodologies and has a loan portfolio of more than $24 million.
