Fondesol

The Catholic Church since 1996 beginning rural micro-credit programmes, especially developing capabilities with the methodology of rural community banks, taking financial support from CRS-USA with their programmes of Title II and other resources themselves.

At the end of 2001, these resources stopped flowing for micro-credit projects; CRS proposed to the participating institutions as exit strategy merging their programmes of rural micro credit in an institution specializing in rural microfinance, but guided by the principles of the economy of solidarity of the social doctrine of the Catholic Church.

In June 2004 terminating the legal merger of the new institution, taking the name of "Solidarity Fund for Development" FONDESOL. The merger operation started on February 1, 2005, with a central office located in the capital city of Guatemala and 4 agencies located in, Rabinal (Baja Verapaz), Totonicapan, San Marcos and Playa Grande (Ixcan, Quiche).