Since 1994, catholic church’s institutions begun with credit programs in Guatemala, with technical advise and financing of Catholic Relief Services CRS, as part of other development projects in communities of rural areas in Guatemala, financed by USAID and the CRS. In year 2000 CRS was part of a sustainability strategy for these credit projects, and that proposes to these institutions an initiative of joining in a Microfinance Institution, with the vision of:
- To specialize the credit service.
- Build a sustainable financial institution under the principles of solidarity economy of the social doctrine of the catholic church.
FONDESOL is the product of 4 microfinance programs of the Catholic Church, those decided to merge their microcredit program and establish an unique institution specialized in the development and promotion of microfinances, specially in rural areas, they are San Marcos’ diocese, Los Altos’s archidiocese, Verapaz’s diocese, and social pastoral of Ixcan of Quiche’s diocese, two more institutions join the effort, they are Catholic Relief Services who provide the technical support and Caritas of Guatemala that accompanies the process.
On June 3, 2004 it is registered on the Municipality of Guatemala as a civil asociation. On February 1, 2005 it begins operations as “Fondo para el desarrollo solidario” (fund for solidarity development) FONDESOL, nowadays the Institution has a central office and 29 agencies strategically distributed inside of the country.