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SICSA is a microfinance refinancing institution set up to bridge the financing gap for MFIs in Central America. The institution was created in 2006 on the initiative of the Central American microfinance network REDCAMIF. SICSA operates in 6 Central American countries – Nicaragua, Costa Rica, Honduras, El Salvador, Guatemala and Panama.
The microfinance sector is not very concentrated in Central America, and is mainly made up of small and medium-sized MFIs. These MFIs play an essential role in improving the living conditions and resilience of vulnerable populations. However, these MFIs are struggling to find financing – most of them are neither sized nor equipped to attract funds from international investors – which reduces the scope of their impact.
SICSA mainly targets small and medium-sized MFIs, particularly in rural areas, which are struggling to refinance themselves. With its flexible products adapted to the needs of these MFIs and its rapid processing, SICSA is a preferred financing institution for these MFIs and helps them to develop.
