Support Agricultural Financial System in Colombia (PASAC)

March 2020 marked the end of a major project for DID: the Supporting the Agricultural Financial System in Colombia project (PASAC). Launched in 2014, PASAC mobilized some of the largest entities in the Colombian agricultural sector, including the FINAGRO agricultural development fund and the Banco Agrario de Colombia agricultural state bank. Through PASAC, not only has DID helped local financial institutions adopt a more efficient credit methodology, but it has also influenced the implementation of new public policies centred on the financial inclusion of agricultural producers. The project also contributed to the financial literacy of thousands of farmers, the majority of whom are women, and supported the development of post-conflict zones. PASAC in figures: 1) 40 financial institutions were supported and 3,500 finance professionals (50% women) were trained on better credit methodologies 2) 12,000 microentrepreneurs benefited from rural micro credit lines created by participating cooperatives and 136,000 farm loans were granted to 80,000 farmers 3) 15,000 farmers (57% women) received some financial education 4) A mobile application, DECISION, was developed to facilitate the work of credit officers, no matter where they are 5) An agro-economic database condensing production costs, yields and production cycles associated with several agricultural sectors was developed.