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About Us

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FUBODE is a leading microfinance institution established as a subsidiary of VisionFund International, a global microfinance institution operating in Africa, Asia, Latin America and the Middle East/Eastern Europe. VisionFund International is a wholly owned subsidiary of World Vision International, a Christian relief development and advocacy organization. Working together, we provide the foundations for local economies to flourish in healthy and safe communities.

 

We provide financial services to people who would otherwise have little or no access to credit. The well-being of children, families and communities in Bolivia is our main focus. We serve the country’s poorest people by helping them start or grow their own businesses through loans of just a few hundred dollars.

History

FUBODE been supporting clients since 1997, and since then has grown to serve 30,100 active borrowers and impact 74,100 children and 49,200 jobs.

 

World Vision originally began its microfinance and savings programme in 1993, but quickly realised the global need for microfinance and the immense role it played in reducing poverty. VisionFund International was then founded in 2003 to manage its network of affiliated microfinance organisations (MFIs).

 

Since then, VisionFund International has been lending money to people in need of financial services, helping them to start or grow sustainable businesses. Our clients use the income earned to build a better future for their children, for example, through having clean water, nutritious food, education and healthcare. 

Working in the Bolivia

Bolivia shifted to a democratic form of government in the early 1980s, yet it remains one of the poorest and least developed countries in Latin America. Almost 50% of the population lives on less than US$2 each day.

 

Educational opportunities are some of the most unevenly distributed on the continent, with girls, indigenous and rural children less likely to complete primary school. Bolivia also ranks poorly in areas of malnutrition, mortality and life expectancy.

 

Many rural areas have limited access to financial services, making rural families living in poverty particularly vulnerable.

Management

Luis Ontiveros
CEO

Luis Fernando Torrez Ontiveros was part of the founding team of our microfinance institution in Bolivia, starting as a manager in 1999. Previously he worked with Banco Boliviano Americano and World Vision Bolivia.

 

Our microfinance institution in Bolivia is led and monitored by VisionFund International and supervised at the national level by the Supervisory Authority Financial System (ASFI). It also has a senior leadership team and is governed by a board of directors. 

Awards and Ratings

  • Mix Market 5 Diamond Transparency Award (2014) 
  • Star MFI Recognition (2014) 
  • Microfinance Americas: Top 100 -- Scored 8th for Portfolio Quality (2014)
  • BBB Microfinance Rating, EASA Ratings (2013) 
  • Recognition for Social Responsibility from MIX (2013) 
  • Recognition for complying with Smart Campaign microfinance principles (2013)