IFC helps SMEs

The International Finance Corp. (IFC), through its Latin American Small and Medium Enterprise Facility (LAC SME facility), has partnered with Eziba, an American retailer of high-quality handcrafted products, to provide indigenous enterprises in Peru and Bolivia with access to international markets.

As part of the partnership, the facility organized a buying mission to introduce Eziba to several indigenous enterprises in municipalities in Peru and Bolivia.

Eziba selected products from various enterprises for its upcoming catalogs, and has recently completed its first round of orders, totaling over $20,000.

For many of the enterprises, the project has already had significant results, both in terms of revenues and market access.

This partnership between the IFC LAC SME facility and Eziba is a pilot initiative in the AC SME Facility’s program.

This is the first time IFC will directly support indigenous enterprises, which historically were excluded from market opportunities.

To maximize the program’s impact, it targeted indigenous enterprises, such as Senor de Mayo in El Alto, which represent multiple producers.

The pilot program with Eziba will link approximately 10 indigenous enterprises in Bolivia and Peru with Eziba.

The program is estimated to generate $50,000 in revenues to the enterprises by end December and $100,000 in the following year.

"By expanding market access and increasing revenues for indigenous enterprises, the partnership helps improve living conditions for the communities supporting these enterprises," Atul Mehta, IFC director of Latin America and the Caribbean noted.