Perez Agricultural Venture - Ibedi Guna, Panama

Economic Challenge

Community members in Ibedi Guna lack access to financial resources within the community. The majority of community members do not have bank accounts and there are only limited informal forms of credit available.  For example, a person could obtain ‘credit’ at a local store by buying something now and paying later, simply adding it to their ‘tab,’ but there would be no formalized credit transaction.  Larger financial institutions do not approve loans to community members without a fixed income, making it difficult for local

micro-eenterprises to grow and thrive. Most community members cite the distance to the nearest bank as the main discouragement to having a personal savings account. In order to gain access, members must travel to Torti, a 15-minute bus ride. Even if individuals wish to travel the distance, not all community members can become members of these financial institutions–cooperatives require monthly membership fees, savings accounts often require a fixed income, and cost of travel and the lack of land titles as an indigenous community provide additional barriers.