Weathering the Storm II: A Case Study of Financiera FAMA

Past crises have taught the microfinance sector a lot about weathering storms. Microfinance institutions (MFIs) are once again facing challenging times. This case study is part of Weathering the Storm II series revisiting tales of tough times and resiliency in five markets and discussing how MFIs, with the help of their investors and other stakeholders, emerged and thrived.

This final case study tells the story of a Nicaraguan MFI, Financiera FAMA, that weathered the No Pago Movement and the lessons its leader and investors learned, especially with regard to operational efficiency. The lessons learned from these cases will be compiled and examined in a forthcoming report, Weathering the Storm II, a follow-up to the first edition published in the aftermath of the global financial crisis a decade ago. The hope is that these lessons will apply to not only the COVID-19 response, but to future crisis responses as well.