Unlocking growth through credit guarantees

1 Unlocking Growth Through Credit Guarantees

CONTRACTOR

The QED Group, LLC

1250 Eye Street

Suite 1100

Washington, D.C. 20005

ABOUT THE AUTHOR

Lara Storm is the Director of Financial Inclusion at MIX and is responsible for leading MIX’s growing portfolio of financial inclusion projects. Storm’s rich experience in financial inclusion

and client-centric microfinance started with her work managing client and market research at

ProMujer and prior work accrediting partner MFIs at Catholic Relief Services. Immediately

before joining MIX, she led the Youth-Inclusive Financial Services Linkage program at Making

Cents, developing and managing training curricula and a platform for best practice exchange to

promote appropriate financial services to youth. Storm started her career in Ecuador and then

in New York as a credit ratings analyst with Fitch Ratings. She holds a Masters of International

Affairs from Columbia University’s School of International and Public Affairs and a B.A. in

Spanish and Geography from the University of California, Davis.

Unlocking Growth Through Credit Guarantees 2

UNLOCKING GROWTH THROUGH CREDIT GUARANTEES:

An overview analysis of loans to woman-owned SMEs


CONTENTS

ACRONYMS ....................................................................................................................................................................... 4

LIST OF TABLES ................................................................................................................................................................ 5

LIST OF FIGURES .............................................................................................................................................................. 6

EXECUTIVE SUMMARY .................................................................................................................................................. 7

BACKGROUND ............................................................................................................................................................. 10

RATIONALE ..................................................................................................................................................................... 10

ABOUT THE DATA ....................................................................................................................................................... 11

SECTOR ANALYSIS ....................................................................................................................................................... 17

BUSINESS SIZE ANALYSIS ........................................................................................................................................... 21

FIRST-TIME BORROWER ANALYSIS ....................................................................................................................... 23

CONCLUSION ................................................................................................................................................................ 27

RECOMMENDATIONS FOR USAID ........................................................................................................................ 28

ANNEXES ......................................................................................................................................................................... 29


ACRONYMS

DCA Development Credit Authority

DRC Democratic Republic of Congo

E&E Europe and Eurasia

FY Fiscal Year

ICT Information and Communications Technology

IFC International Finance Corporation

LAC Latin American and the Caribbean

MENA Middle East and North Africa

MFI Microfinance Institution

MPEP Microenterprise and Private Enterprise Promotion office

MSMEs Micro, Small, and Medium Enterprises

NGO Non-Governmental Organization

SMEs Small and Medium Enterprises

UN United Nations

USAID United States Agency for International Development

WLSME Women’s Leadership in Small and Medium Enterprises


LIST OF TABLES

Table 1: DCA Portfolio Overview (FY 1999 – 2012) ............................................................................................. 11

Table 2: Median Loan Size (US$) by Gender and Business Size .......................................................................... 12

Table 3: Arrears as % of Total Number of SME Loans, by Region ...................................................................... 16

Table 4: Median Loan Size (US$) and Median Tenor (months) ............................................................................ 17

Table 5: Ownership as % of Total SME Loans, by Gender and Sector ............................................................... 18

Table 6: Comparison of Median Loan Size and Tenor, by Gender and Sector ................................................ 19

Table 7: Distribution of Arrears, by Gender and Sector (% of loans > 30 days past due) ............................ 20

Table 8: Proportion of Loans Made to SMEs ............................................................................................................ 21

Table 9: Median Loan Size (US$), by Gender and Business Size .......................................................................... 22

Table 10: % of Total Arrears > 30 Days, by Gender and Business Size ............................................................. 22

Table 11: Comparison of First-Time Borrowers, by Sector ................................................................................. 24

Table 12: Repeat vs. First-Time Borrowers, by Number of Employees ............................................................ 25

Table 13: Percentage of Loans Made to First-Time and Repeat Borrowers ..................................................... 26

Table 14: Distribution of Loans, by Country and Gender (number of loans per country) ........................... 30

Table 15: Loan Size Distribution, by Gender of Borrower's Firm Ownership ................................................. 33

Table 16: % Distribution of DCA SME Portfolio, by Gender and Country....................................................... 34

Table 17: Gender Breakdown of DCA-backed SME Loans, by Country (% country-specific loan

portfolio) ............................................................................................................................................................................ 37

Table 18: Portfolio Allocation, by Country and Gender (US$) ............................................................................ 40

Table 19: Portfolio Allocation, by Country and Gender (% of total, US$523.3 million) ................................ 43

Table 20: Country Portfolio Distribution, by Gender ............................................................................................ 46

Table 21: Number of First-time/Repeat Borrowers, by Country (women-owned SMEs) ............................. 49

Table 22: Division of First-Time/Repeat Borrowers, by Country (women-owned SMEs) ............................ 51

Table 23: Number of First-Time/Repeat Borrowers, by Country (men-owned SMEs) ................................. 53

Table 24: Division of First-Time/Repeat Borrowers, by Country (men-owned SMEs) .................................. 55

Table 25: Distribution of First-Time Borrowers, by Sector and Gender .......................................................... 57


LIST OF FIGURES

Figure 1: Number of Loans, by Gender of Ownership........................................................................................... 12

Figure 2: Portfolio Value, by Gender of Ownership ............................................................................................... 13

Figure 3: Number of Men-owned SME Loans, According to Number of Employees ..................................... 13

Figure 4: Number of Women-owned SME Loans, According to Number of Employees .............................. 13

Figure 5: Breakdown of Number of Loans, by Region and Gender .................................................................... 15

Figure 6: Portfolio Value Breakdown by Region and Gender ............................................................................... 15

Figure 7: Loans to First-time Borrowers ................................................................................................................... 23

Figure 8: Distribution of Women-owned SME (out of 176 loans > 30 days past due) .................................. 33


EXECUTIVE SUMMARY

1 IFC-McKinsey Report, 2011. 2 IFC-McKinsey Report, 2011. 3 IFC-McKinsey Report, 2011. 4 Bardasi, et al., 2007; Demigurc-Kunts, et al., 2008; Diagne, 2000; Ellist et al., 2007; GEM, IFC, 2005, Faisel, 2004; Rose, 1992; ILO/AfDB, 2004, Goheer, 2003, Narain, 2007; Rischardons, et al, 2004. 5 To support the work that is being done, and that has already been done, in the areas of gender and SME development, USAID’s Microenterprise & Private Enterprise Promotion Office (MPEP) launched the Women’s Leadership in SMEs online community platform, www.wlsme.org. The site allows practitioners in the development community to further the discussion around these issues and to generate a growing body of knowledge on how to address limitations to women’s SME growth. 6 To see more explanation behind the SME definition for this report, please see Section 3.

http://www.wlsme.org/


7 D’Espallier, Guérin and Mersland, 2009. Women and Repayment in Microfinance. 8 IFC-McKinsey Report, 2011. 9 As previously stated, the definition of SME for the purposes of this report will use a dollar value (>US$2,000) rather than number of employees, since 40% of all guaranteed loans reported in the DCA database do not have information on number of employees. 10 17.5% of the SME loans do not report on first-time borrower status.


11 5.9% of men-owned SME loans do not report on first-time borrower status. 12 2.8% of women-owned SME loans do not report on first-time borrower status. 13 Because of data quality issues, this study could not analyze interest rates and collateral requirements by gender of the SME owner.


1. BACKGROUND

2. RATIONALE

www.wlsme.org

14 The IFC-McKinsey Report uses the following MSME definitions: micro (1-4 employees), very small (5-9 employees), small (10-49 employees), and medium enterprises (50-250 employees). 15 IFC-McKinsey Report, 2011. 16 Bardasi, et al.. 2007; Demigurc-Kunt, et al., 2008; Diagne, 2000; Ellis et al., GEM, IFC, 2005, Faisel, 2004; Rose, 1992; ILO/AfDB, 2004; Goheer, 2003: Narain, 2007; Richardson, et al., 2004. 17 IFC-McKinsey Report, 2011. 18 UN Millennium Development Goal #3, http://www.un.org/millenniumgoals/gender.shtml 19 Baliamoune-Lutz and McFillivray, 2007 UNECA.

http://www.wlsme.org/

http://www.un.org/millenniumgoals/gender.shtml


Table 1: DCA Portfolio Overview (FY 1999 – 2012)

3. ABOUT THE DATA

Number of Guarantees 344

Private Capital Mobilized US$2,733,084,131

Actual Disbursements US$1,123,620,048

Subsidy Cost US$117,791,294

Net Claims Paid US$10,471,787

Fees Received US$11,827,270

Net Default Rate 1.8%

Utilization Rate (Expired Guarantees) 81%

Number of Borrowers 130,298

Average Loan Size US$8,623

Number of Risk Sharing Partners 259

Countries with DCA Guarantees 70

Leverage 23

https://explore.data.gov/Foreign-Commerce-and-Aid/USAID-Development-Credit-Authority-Guarantee-Data-/7swc-ittd

https://explore.data.gov/Foreign-Commerce-and-Aid/USAID-Development-Credit-Authority-Guarantee-Data-/7swc-ittd


GLOBAL RESULTS

20 Please see Table 25 in the Appendix for loan size distribution by gender of the borrower’s owner. This analysis also disregards some loans under the Housing category, which went to individuals rather than SMEs, and loans under the Infrastructure category, which went to municipalities and other public entities. 22 The DCA may offer multiple guarantees in a country, each with different intents, terms, and lending partners. 22 For 14.2 percent of loans, lenders did not report on gender of ownership.

Table 2: Median Loan Size (US$) by Gender and

Business Size

Size

Women-

owned

SMEs

Men-

owned

SMEs

Overall

>100 Employees 112,659 416,000 336,115

51-100 Employees 89,090 82,645 82,645

11-50 Employees 17,403 8,573 10,171

6-10 Employees 8,507 3,889 3,947

1-5 Employees 697 1,680 1,189

No Employees 770 911 877

Figure 1: Number of Loans by Gender

of Ownership

Men-

owned,

67.72%

Women

-owned,

18.10%

N/A,

14.17%


23 For 8.6 percent of portfolio value, lenders did not report on gender of ownership. 24 IFC-McKinsey Report, 2011

Figure 2: Portfolio Value by Gender of

Ownership (US$523.2 million)

Men-

owned,

81.64%

Women

-owned,

9.76%

N/A,

8.60%


REGIONAL FOCUS

25 D’Espallier, Guérin and Mersland, 2011. 26 Hundley, 2001. 27 World Bank Agriculture Resource Book, 2008, ibid, de Janvry and other, 2006, World Bank, 2004. 28 IFC-McKinsey Report, 2011


29 3.93% of the portfolio does not list region, but instead is listed as “worldwide,” representing some guarantees to organizations that operate globally.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

AFRICA ASIA E&E LAC MENA Worldwide

N/A

Women-owned SMEs

Men-owned SMEs

Figure 6: Portfolio Value Breakdown by Region and Gender

% o

f P

ort

folio

(o

ut

of

US

$523.3

millio

n)

0%

10%

20%

30%

40%

50%

60%

AFRICA ASIA E&E LAC MENA Worldwide

N/A

Women-owned SMEs

Men-owned SMEs

Figure 5: Breakdown of Number of Loans by Region and Gender

% o

f L

oan

s (o

ut

of

19,5

99)


Table 3: Arrears as % of Total Number of SME Loans, by Region

Region Women-owned

SMEs

Men-owned

SMEs

Gender of ownership

unknown

Overall

average

Africa 4.0% 3.7% 1.8% 3.3%

Asia 6.3% 7.7% 0.0% 7.4%

E&E 4.5% 6.1% 3.1% 5.0%

LAC 4.9% 6.4% 3.3% 5.7%

MENA — — — —

Overall average 5.0% 5.8% 3.0% 5.3%

30 Lending partners in Bulgaria and Mali did not report on gender of ownership. 31 Armenia, Bangladesh, Egypt, India, Jordan, Philippines, South Sudan, Sri Lanka, Togo, West Bank/Gaza, Zimbabwe


Table 4: Median Loan Size (US$) and Median Tenor (months)

Region Women-owned

SMEs

Men-owned

SMEs

Women-owned

SMEs

Men-owned

SMEs

Africa $ 6,506.51 $ 4,463.03 12.0 24.0

Asia $ 5,291.01 $ 5,291.01 36.0 35.0

E&E $ 3,260.87 $ 6,468.31 48.1 36.0

LAC $ 3,285.87 $ 4,082.21 15.1 12.6

MENA — $ 170,338.98 — 35.1

4. SECTOR ANALYSIS

32 Amin, 2010. 33 FAO, 2011.


Table 5: Ownership as % of Total SME Loans, by Gender and Sector

Sector Men-owned

SMEs

Women-owned

SMEs

Gender not

specified

Total value by

sector

Agriculture 65.46% 37.26% 51.40% 58.37%

Trade/Commerce 17.32% 36.64% 19.33% 21.10%

Manufacturing 5.46% 9.78% 19.08% 8.17%

Other Service 4.23% 7.67% 0.40% 4.31%

Education 1.23% 3.80% 0.22% 1.55%

Tourism 0.64% 1.01% 0.14% 0.64%

Not reported 1.85% 0.87% 7.27% 2.44%

Transportation 0.78% 0.73% 0.36% 0.71%

Health 1.08% 0.59% 0.29% 0.88%

Fisheries/Aquaculture 0.45% 0.54% 0.25% 0.44%

Construction 0.74% 0.42% 0.83% 0.69%

Information and Communications

Technology 0.32% 0.31% 0.18% 0.30%

Forestry/Wood 0.29% 0.28% 0.22% 0.28%

Energy 0.15% 0.08% 0.04% 0.12%

Grand Total 100.00% 100.00% 100.00% 100.00%

34 Please see Annex 1 for sector definitions in DCA loan reporting.


Table 6: Comparison of Median Loan Size and Tenor, by Gender and Sector

Median Loan Size (US$) Median Tenor (Months)

Sector Women-

owned SMEs

Men-owned

SMEs

Median

Overall

Women-

owned SMEs

Men-owned

SMEs Overall

Construction $ 48,862 $ 16,104 $ 18,541 36 24 24

ICT $ 39,606 $ 15,671 $ 21,955 37 27 30

Health $ 19,803 $ 20,544 $ 20,396 36 24 24

Transportation $ 15,194 $ 18,814 $ 18,428 39 32 34

Energy $ 8,367 $ 97,656 $ 72,289 24 24 24

Tourism $ 5,479 $ 49,296 $ 25,000 36 48 36

Trade/Commerce $ 4,628 $ 6,364 $ 5,612 22 24 24

Forestry $ 4,469 $ 12,997 $ 7,421 36 35 36

Education $ 3,883 $ 3,723 $ 3,820 23 18 19

Agriculture $ 3,802 $ 3,906 $ 3,906 18 12 12

Manufacturing $ 3,000 $ 6,000 $ 5,143 19 19 19

Other Service $ 2,812 $ 5,277 $ 4,174 24 28 24

Fisheries $ 2,287 $ 2,768 $ 2,665 30 24 24

Overall $ 3,906 $ 4,577 $ 4,423 23 22 22


Table 7: Distribution of Arrears, by Gender and Sector (% of loans > 30 days past due)

Sector Men-owned

SMEs

Women-

owned SMEs

Gender not

specified

Total value

by sector

Agriculture 7.2% 8.7% 3.7% 6.9%

Construction 5.1% — — 3.7%

Education 6.1% 6.7% — 6.3%

Energy 5.0% — 100.0% 8.3%

Fisheries/Aquaculture 5.0% 5.3% — 4.7%

Forestry/Wood 7.7% — — 5.5%

Health 2.1% 14.3% — 3.5%

Information & Communication Technologies — — — —

Manufacturing 3.4% 2.9% 1.3% 2.6%

Other Service 2.9% 0.7% — 2.1%

Tourism 5.9% 11.1% — 7.2%

Trade/Commerce 2.3% 2.3% 2.0% 2.3%

Transportation 3.9% 3.8% — 3.6%

Not Reported 6.9% 3.2% 5.4% 6.1%

Overall Average 5.8% 5.0% 3.0% 5.3%


5. BUSINESS SIZE ANALYSIS

35 IFC-McKinsey Report, 2011. 36 Given the relatively small loan size used to define SMEs in this analysis, it is perhaps not surprising that loans made to borrowers with 0 or 1–5 employees comprise the majority of the portfolio across ownership gender.

Table 8: Proportion of Loans Made to SMEs

Number of

employees

Men-

owned

borrowers

Women-

owned

borrowers

Gender not

specified

Overall

Average

0 34.3% 36.0% 3.3% 30.2%

1–5 43.3% 45.2% 25.2% 41.1%

6–10 8.1% 4.6% 0.0% 6.3%

11–50 9.9% 6.1% 0.1% 7.8%

51–100 0.6% 0.6% 0.0% 0.5%

>100 0.4% 0.3% 0.0% 0.3%

Not

Reported 3.5% 7.2% 71.4% 13.8%

Grand Total 100.0% 100.0% 100.0% 100.0%


Table 10: % of Total Arrears > 30 Days, by Gender and Business Size

Size (# of Employees) Men-owned

SMEs

Women-owned

SMEs

Gender not

specified Total

0 1.60% 0.39% 0.04% 2.02%

1–5 1.75% 0.37% 0.07% 2.19%

6–10 0.20% 0.02% 0.00% 0.22%

11–50 0.29% 0.06% 0.00% 0.34%

51–100 0.00% 0.02% 0.00% 0.02%

>100 0.02% 0.01% 0.00% 0.03%

Not reported 0.07% 0.04% 0.32% 0.43%

Total 3.93% 0.90% 0.42% 5.25%

Table 9: Median Loan Size (US$), by Gender and Business Size

Size (# of Employees) Women-owned SMEs Men-owned SMEs Overall

0 $3,409 $4,631 $4,233

1–5 $3,636 $3,745 $3,717

6–10 $12,151 $5,017 $5,769

11–50 $24,451 $10,669 $13,548

51–100 $98,814 $82,645 $82,713

>100 $112,659 $465,310 $350,000


6. FIRST-TIME BORROWER ANALYSIS

37 DCA defines a first-time borrower as an individual who is borrowing from a specific institution for the first time.

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

Perc

en

tage o

f all S

ME

lo

an

s

Men-owned

Women-owned

N/A

Figure 7: Loans to First-time Borrowers

Borrowers


Table 11: Comparison of First-Time Borrowers, by Sector

Sector Repeat

Borrowers

First-time

Borrowers

Gender not

specified Total


Tourism 45.60% 52.80% 1.60% 100.00%

Other Service 47.04% 50.59% 2.37% 100.00%

Agriculture 30.85% 50.36% 18.79% 100.00%

Education 56.91% 42.76% 0.33% 100.00%

ICT 55.93% 42.37% 1.69% 100.00%

Energy 62.50% 33.33% 4.17% 100.00%

Trade/Commerce 56.87% 33.17% 9.96% 100.00%

Forestry/Wood 69.09% 29.09% 1.82% 100.00%

Transportation 69.06% 28.06% 2.88% 100.00%

Health 29.65% 19.77% 50.58% 100.00%

Construction 76.47% 17.65% 5.88% 100.00%

Manufacturing 51.31% 15.23% 33.46% 100.00%

Not reported 52.30% 5.44% 42.26% 100.00%

Grand Total 40.55% 41.95% 17.51% 100.00%


Table 12: Repeat vs. First-Time Borrowers, by Number of Employees

Number of employees

of SME borrower

Repeat

borrowers

First-time

borrowers

Loan history not

reported

Grand Total

0 52.9% 45.3% 1.9% 100.0%

1–5 40.0% 42.6% 17.3% 100.0%

6-–10 43.2% 51.7% 5.1% 100.0%

11–50 47.5% 50.1% 2.4% 100.0%

51–100 65.7% 33.3% 1.0% 100.0%

>100 39.1% 60.9% 0.0% 100.0%

Number not reported 9.0% 23.5% 67.5% 100.0%

Grand Total 40.5% 41.9% 17.5% 100.0%


Table 13: Percentage of Loans Made to First-Time and Repeat Borrowers

Gender of ownership &

number of employees

Repeat

borrowers

First-time

borrowers

Loan history

not reported Grand Total

Men-owned SMEs 44.7% 49.4% 5.9% 100.0%

0 53.8% 45.7% 0.5% 100.0%

1–5 41.1% 47.8% 11.1% 100.0%

6–10 40.9% 53.7% 5.4% 100.0%

11–50 45.1% 52.1% 2.8% 100.0%

51–100 73.2% 26.8% 0.0% 100.0%

>100 32.7% 67.3% 0.0% 100.0%


Women-owned SMEs 50.5% 46.7% 2.8% 100.0%

0 53.1% 46.9% 0.0% 100.0%

1–5 53.8% 42.8% 3.4% 100.0%

6–10 58.5% 38.4% 3.0% 100.0%

11–50 61.8% 37.8% 0.5% 100.0%

51–100 35.0% 60.0% 5.0% 100.0%

>100 77.8% 22.2% 0.0% 100.0%


Gender not reported 8.0% 0.4% 91.6% 100.0%

0 4.4% 1.1% 94.5% 100.0%

1–5 0.1% 0.0% 99.9% 100.0%

11–50 33.3% 66.7% 0.0% 100.0%


Overall average 40.5% 41.9% 17.5% 100.0%


7. CONCLUSION


8. RECOMMENDATIONS FOR USAID


ANNEX 1

BUSINESS/SECTOR DEFINITIONS USED IN DCA LOAN CLASSIFICATIONS:


ANNEX 2

Table 14: Distribution of Loans, by Country and Gender (number of loans per country)

Country Men-owned SMEs Women-owned SMEs Gender not

reported Total

Albania 26 2 7 35

Angola 6 2 — 8

Armenia 1 — — 1

Azerbaijan 158 24 — 182

Bangladesh 3 — 5 8

Bosnia Herzegovina 28 1 1 30

Bulgaria — — 1 1

Burundi 13 1 — 14

Colombia 654 441 — 1095

DRC 37 14 — 51

Dominican Republic 1531 271 — 1802

Ecuador 681 506 573 1760

Egypt 1 — — 1

El Salvador 180 47 22 249

Ethiopia 72 6 26 104

Georgia 58 6 2 66

Ghana 1053 97 1 1151

Guatemala 223 31 — 254

Guyana 204 73 64 341

Haiti 801 203 88 1092

Honduras 30 7 23 60

India 2 — — 2



reported Total

Indonesia 1728 528 — 2256

Jamaica 92 207 28 327

Jordan 12 — 1 13

Kenya 668 275 348 1291

Kosovo 274 8 443 725

Kyrgyzstan 3 1 — 4

Liberia 5 1 — 6

Macedonia 399 111 12 522

Malawi 81 9 7 97

Mali — — 1 1

Moldova 10 5 44 59

Mongolia 152 57 — 209

Mozambique 115 12 1 128

Nicaragua 115 41 127 283

Nigeria 142 12 2 156

Paraguay 145 10 — 155

Peru 1642 347 173 2162

Philippines 2 — 1 3

Rwanda 9 1 10 20

Senegal 389 26 45 460

South Africa 33 18 — 51

South Sudan 2 — — 2

Sri Lanka 1 — — 1

Swaziland 37 2 10 49

Tajikistan 368 35 — 403



reported Total

Tanzania 214 17 — 231

Togo 1 — — 1

Uganda 751 86 703 1540

West Bank/Gaza 1 — — 1

Zambia 79 3 8 90

Zimbabwe 9 — — 9

Not reported 32 4 1 37

Grand Total 13273 3548 2778 19599


ANNEX 3

Figure 8: Distribution of Women-owned SMEs (out of 176 loans > 30 days past due)

Table 15: Loan Size Distribution, by Gender of Borrower's Firm Ownership

Loan size, upper limit (US$) Cumulative %, women-owned SMEs Cumulative %, men-owned SMEs

$2,000 2.31% 0.75%

$3,000 37.17% 29.42%

$4,000 52.51% 46.69%

$5,000 61.56% 55.60%

$6,000 67.96% 63.52%

$7,000 72.34% 67.61%

$8,000 75.72% 70.68%

$9,000 77.72% 72.42%

$10,000 80.32% 74.54%

$11,000 81.98% 76.46%

$12,000 83.70% 77.69%

$13,000 85.08% 78.90%

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

Cu

mu

lati

ve p

erc

en

tage

Loan size, upper limit of range (USD)

Loan size distribution by gender of borrower's owner

Loans to women-

owned SMEs

Loans to men-owned

SMEs


Loan size, upper limit (US$) Cumulative %, women-owned SMEs Cumulative %, men-owned SMEs

$14,000 85.84% 79.72%

$15,000 86.89% 81.04%

$16,000 87.42% 81.88%

$17,000 88.16% 82.59%

$18,000 88.41% 82.97%

$19,000 89.17% 83.45%

$20,000 89.90% 84.28%

$30,000 92.78% 88.09%

$40,000 94.42% 90.24%

$50,000 95.09% 91.34%

More 100.00% 100.00%

Table 16: % Distribution of DCA SME Portfolio, by Gender and Country


specified Total

Indonesia 8.82% 2.69% 0.00% 11.51%

Peru 8.38% 1.77% 0.88% 11.03%

Dominican Republic 7.81% 1.38% 0.00% 9.19%

Ghana 5.37% 0.49% 0.01% 5.87%

Haiti 4.09% 1.04% 0.45% 5.57%

Uganda 3.83% 0.44% 3.59% 7.86%

Ecuador 3.47% 2.58% 2.92% 8.98%

Kenya 3.41% 1.40% 1.78% 6.59%

Colombia 3.34% 2.25% 0.00% 5.59%

Macedonia 2.04% 0.57% 0.06% 2.66%

Senegal 1.98% 0.13% 0.23% 2.35%



specified Total

Tajikistan 1.88% 0.18% 0.00% 2.06%

Kosovo 1.40% 0.04% 2.26% 3.70%

Guatemala 1.14% 0.16% 0.00% 1.30%

Tanzania 1.09% 0.09% 0.00% 1.18%

Guyana 1.04% 0.37% 0.33% 1.74%

El Salvador 0.92% 0.24% 0.11% 1.27%

Azerbaijan 0.81% 0.12% 0.00% 0.93%

Mongolia 0.78% 0.29% 0.00% 1.07%

Paraguay 0.74% 0.05% 0.00% 0.79%

Nigeria 0.72% 0.06% 0.01% 0.80%

Mozambique 0.59% 0.06% 0.01% 0.65%

Nicaragua 0.59% 0.21% 0.65% 1.44%

Jamaica 0.47% 1.06% 0.14% 1.67%

Malawi 0.41% 0.05% 0.04% 0.49%

Zambia 0.40% 0.02% 0.04% 0.46%

Ethiopia 0.37% 0.03% 0.13% 0.53%

Georgia 0.30% 0.03% 0.01% 0.34%

DRC 0.19% 0.07% 0.00% 0.26%

Swaziland 0.19% 0.01% 0.05% 0.25%

South Africa 0.17% 0.09% 0.00% 0.26%

Honduras 0.15% 0.04% 0.12% 0.31%

Bosnia Herzegovina 0.14% 0.01% 0.01% 0.15%

Albania 0.13% 0.01% 0.04% 0.18%

Burundi 0.07% 0.01% 0.00% 0.07%

Jordan 0.06% 0.00% 0.01% 0.07%



specified Total

Moldova 0.05% 0.03% 0.22% 0.30%

Rwanda 0.05% 0.01% 0.05% 0.10%

Zimbabwe 0.05% 0.00% 0.00% 0.05%

Angola 0.03% 0.01% 0.00% 0.04%

Liberia 0.03% 0.01% 0.00% 0.03%

Bangladesh 0.02% 0.00% 0.03% 0.04%

Kyrgyzstan 0.02% 0.01% 0.00% 0.02%

India 0.01% 0.00% 0.00% 0.01%

Philippines 0.01% 0.00% 0.01% 0.02%

South Sudan 0.01% 0.00% 0.00% 0.01%

Armenia 0.01% 0.00% 0.00% 0.01%

Egypt 0.01% 0.00% 0.00% 0.01%

Sri Lanka 0.01% 0.00% 0.00% 0.01%

Togo 0.01% 0.00% 0.00% 0.01%

West Bank/Gaza 0.01% 0.00% 0.00% 0.01%

Bulgaria 0.00% 0.00% 0.01% 0.01%

Mali 0.00% 0.00% 0.01% 0.01%

Not reported 0.16% 0.02% 0.01% 0.19%

Grand Total 67.72% 18.10% 14.17% 100.00%


ANNEX 4

Table 17: Gender Breakdown of DCA-backed SME Loans, by Country

(% country-specific loan portfolio)

*For the purpose of this analysis, SME is defined as a business with a loan of US$2,000 or greater


specified Total

Jamaica 28.13% 63.30% 8.56% 100.00%

Colombia 59.73% 40.27% 0.00% 100.00%

South Africa 64.71% 35.29% 0.00% 100.00%

Ecuador 38.69% 28.75% 32.56% 100.00%

DRC 72.55% 27.45% 0.00% 100.00%

Mongolia 72.73% 27.27% 0.00% 100.00%

Angola 75.00% 25.00% 0.00% 100.00%

Kyrgyzstan 75.00% 25.00% 0.00% 100.00%

Indonesia 76.60% 23.40% 0.00% 100.00%

Guyana 59.82% 21.41% 18.77% 100.00%

Kenya 51.74% 21.30% 26.96% 100.00%

Macedonia 76.44% 21.26% 2.30% 100.00%

El Salvador 72.29% 18.88% 8.84% 100.00%

Haiti 73.35% 18.59% 8.06% 100.00%

Liberia 83.33% 16.67% 0.00% 100.00%

Peru 75.95% 16.05% 8.00% 100.00%


Nicaragua 40.64% 14.49% 44.88% 100.00%

Azerbaijan 86.81% 13.19% 0.00% 100.00%

Guatemala 87.80% 12.20% 0.00% 100.00%

Honduras 50.00% 11.67% 38.33% 100.00%



specified Total

Mozambique 89.84% 9.38% 0.78% 100.00%

Malawi 83.51% 9.28% 7.22% 100.00%

Georgia 87.88% 9.09% 3.03% 100.00%

Tajikistan 91.32% 8.68% 0.00% 100.00%

Moldova 16.95% 8.47% 74.58% 100.00%

Ghana 91.49% 8.43% 0.09% 100.00%

Nigeria 91.03% 7.69% 1.28% 100.00%

Tanzania 92.64% 7.36% 0.00% 100.00%

Burundi 92.86% 7.14% 0.00% 100.00%

Paraguay 93.55% 6.45% 0.00% 100.00%

Ethiopia 69.23% 5.77% 25.00% 100.00%

Albania 74.29% 5.71% 20.00% 100.00%

Senegal 84.57% 5.65% 9.78% 100.00%

Uganda 48.77% 5.58% 45.65% 100.00%

Rwanda 45.00% 5.00% 50.00% 100.00%

Swaziland 75.51% 4.08% 20.41% 100.00%


Zambia 87.78% 3.33% 8.89% 100.00%

Kosovo 37.79% 1.10% 61.10% 100.00%

Armenia 100.00% 0.00% 0.00% 100.00%

Bangladesh 37.50% 0.00% 62.50% 100.00%

Bulgaria 0.00% 0.00% 100.00% 100.00%

Egypt 100.00% 0.00% 0.00% 100.00%

India 100.00% 0.00% 0.00% 100.00%

Jordan 92.31% 0.00% 7.69% 100.00%



specified Total

Mali 0.00% 0.00% 100.00% 100.00%

Philippines 66.67% 0.00% 33.33% 100.00%

South Sudan 100.00% 0.00% 0.00% 100.00%

Sri Lanka 100.00% 0.00% 0.00% 100.00%

Togo 100.00% 0.00% 0.00% 100.00%

West Bank/Gaza 100.00% 0.00% 0.00% 100.00%

Zimbabwe 100.00% 0.00% 0.00% 100.00%

Not reported 86.49% 10.81% 2.70% 100.00%

Grand Total 67.72% 18.10% 14.17% 100.00%


ANNEX 5

Table 18: Portfolio Allocation, by Country and Gender (US$)


specified Country Total

Albania $8,032,804 $226,816 $1,258,824 $9,518,443

Angola $2,149,309 $74,915 — $2,224,225

Armenia $3,000,000 — — $3,000,000

Azerbaijan $3,425,277 $217,500 — $3,642,777

Bangladesh $58,824 — $100,000 $158,824

Bosnia Herzegovina $9,359,378 $814,815 $120,210 $10,294,403

Bulgaria — — $232,739 $232,739

Burundi $1,428,642 $41,667 — $1,470,309

Colombia $16,658,323 $1,450,929 — $18,109,252

DRC $709,800 $116,569 — $826,369

Dominican Republic $7,766,454 $1,307,656 — $9,074,110

Ecuador $4,816,638 $2,774,188 $4,595,676 $12,186,502

Egypt $4,732,691 — — $4,732,691

El Salvador $7,240,120 $2,536,036 $726,214 $10,502,370

Ethiopia $15,703,174 $1,921,108 $2,307,030 $19,931,312

Georgia $15,285,655 $2,211,979 $337,423 $17,835,058

Ghana $5,851,619 $2,244,581 $211,800 $8,308,000

Guatemala $13,445,695 $1,665,271 — $15,110,966

Guyana $1,041,113 $278,211 $428,906 $1,748,231

Haiti $16,903,030 $2,939,251 $1,019,446 $20,861,727

Honduras $230,145 $86,342 $309,815 $626,302

India $13,351,997 — — $13,351,997

Indonesia $37,530,389 $9,221,577 — $46,751,966




Jamaica $791,097 $606,848 $189,323 $1,587,268

Jordan $2,574,279 –– $136,395 $2,710,675

Kenya $18,193,030 $2,784,916 $3,328,006 $24,305,951

Kosovo $3,455,498 $73,457 $4,282,385 $7,811,340

Kyrgyzstan $51,415 $5,000 — $56,415

Liberia $215,000 $50,000 — $265,000

Macedonia $7,327,913 $427,203 $1,101,137 $8,856,253

Malawi $3,873,370 $158,255 $228,546 $4,260,171

Mali — — $209,790 $209,790

Moldova $198,269 $90,415 $342,806 $631,490

Mongolia $18,906,392 $4,729,302 — $23,635,694

Mozambique $9,987,751 $123,553 $280,000 $10,391,304

Nicaragua $5,222,801 $1,822,734 $3,453,043 $10,498,577

Nigeria $5,419,245 $1,792,288 $60,519 $7,272,052

Paraguay $2,765,465 $78,549 — $2,844,014

Peru $15,277,171 $1,607,747 $1,449,572 $18,334,490

Philippines $2,010,944 — $2,351,898 $4,362,842

Rwanda $9,094,394 $2,469 $1,291,906 $10,388,769

Senegal $23,454,848 $1,923,010 $8,248,460 $33,626,318

South Africa $6,070,263 $1,620,622 — $7,690,885

South Sudan $68,027 — — $68,027

Sri Lanka $5,005,066 — — $5,005,066

Swaziland $4,924,989 $272,916 $1,103,647 $6,301,552

Tajikistan $1,084,008 $79,432 — $1,163,440

Tanzania $34,951,724 $1,332,544 — $36,284,268




Togo $597,931 — — $597,931

Uganda $3,653,571 $455,940 $2,992,093 $7,101,604

West Bank/Gaza $500,000 — — $500,000

Zambia $10,056,014 $181,529 $822,784 $11,060,327

Zimbabwe $24,416,000 — — $24,416,000

Not reported $18,329,131 $717,827 $1,500,000 $20,546,958

Grand Total $427,196,683 $51,065,964 $45,020,395 $523,283,042


ANNEX 6

Table 19: Portfolio Allocation, by Country and Gender (% of total, US$523.3 million)


specified Total

Indonesia 7.17% 1.76% 0.00% 8.93%

Mongolia 3.61% 0.90% 0.00% 4.52%

Haiti 3.23% 0.56% 0.19% 3.99%

Kenya 3.48% 0.53% 0.64% 4.64%

Ecuador 0.92% 0.53% 0.88% 2.33%

El Salvador 1.38% 0.48% 0.14% 2.01%

Ghana 1.12% 0.43% 0.04% 1.59%

Georgia 2.92% 0.42% 0.06% 3.41%

Senegal 4.48% 0.37% 1.58% 6.43%

Ethiopia 3.00% 0.37% 0.44% 3.81%

Nicaragua 1.00% 0.35% 0.66% 2.01%

Nigeria 1.04% 0.34% 0.01% 1.39%

Guatemala 2.57% 0.32% 0.00% 2.89%

South Africa 1.16% 0.31% 0.00% 1.47%

Peru 2.92% 0.31% 0.28% 3.50%

Colombia 3.18% 0.28% 0.00% 3.46%

Tanzania 6.68% 0.25% 0.00% 6.93%



Jamaica 0.15% 0.12% 0.04% 0.30%

Uganda 0.70% 0.09% 0.57% 1.36%

Macedonia 1.40% 0.08% 0.21% 1.69%

Guyana 0.20% 0.05% 0.08% 0.33%



specified Total

Swaziland 0.94% 0.05% 0.21% 1.20%

Albania 1.54% 0.04% 0.24% 1.82%

Azerbaijan 0.65% 0.04% 0.00% 0.70%

Zambia 1.92% 0.03% 0.16% 2.11%

Malawi 0.74% 0.03% 0.04% 0.81%

Mozambique 1.91% 0.02% 0.05% 1.99%

DRC 0.14% 0.02% 0.00% 0.16%

Moldova 0.04% 0.02% 0.07% 0.12%

Honduras 0.04% 0.02% 0.06% 0.12%

Tajikistan 0.21% 0.02% 0.00% 0.22%

Paraguay 0.53% 0.02% 0.00% 0.54%

Angola 0.41% 0.01% 0.00% 0.43%

Kosovo 0.66% 0.01% 0.82% 1.49%

Liberia 0.04% 0.01% 0.00% 0.05%

Burundi 0.27% 0.01% 0.00% 0.28%

Kyrgyzstan 0.01% 0.00% 0.00% 0.01%

Rwanda 1.74% 0.00% 0.25% 1.99%

Armenia 0.57% 0.00% 0.00% 0.57%

Bangladesh 0.01% 0.00% 0.02% 0.03%

Bulgaria 0.00% 0.00% 0.04% 0.04%

Egypt 0.90% 0.00% 0.00% 0.90%

India 2.55% 0.00% 0.00% 2.55%

Jordan 0.49% 0.00% 0.03% 0.52%

Mali 0.00% 0.00% 0.04% 0.04%

Philippines 0.38% 0.00% 0.45% 0.83%



specified Total

South Sudan 0.01% 0.00% 0.00% 0.01%

Sri Lanka 0.96% 0.00% 0.00% 0.96%

Togo 0.11% 0.00% 0.00% 0.11%

West Bank/Gaza 0.10% 0.00% 0.00% 0.10%

Zimbabwe 4.67% 0.00% 0.00% 4.67%

Not reported 3.50% 0.14% 0.29% 3.93%

Grand Total 81.64% 9.76% 8.60% 100.00%


ANNEX 7

Table 20: Country Portfolio Distribution, by Gender


specified Total

Jamaica 49.84% 38.23% 11.93% 100.00%

Ghana 70.43% 27.02% 2.55% 100.00%

Nigeria 74.52% 24.65% 0.83% 100.00%

El Salvador 68.94% 24.15% 6.91% 100.00%

Ecuador 39.52% 22.76% 37.71% 100.00%

South Africa 78.93% 21.07% 0.00% 100.00%

Mongolia 79.99% 20.01% 0.00% 100.00%

Indonesia 80.28% 19.72% 0.00% 100.00%

Liberia 81.13% 18.87% 0.00% 100.00%

Nicaragua 49.75% 17.36% 32.89% 100.00%

Guyana 59.55% 15.91% 24.53% 100.00%


Moldova 31.40% 14.32% 54.29% 100.00%

DRC 85.89% 14.11% 0.00% 100.00%

Haiti 81.02% 14.09% 4.89% 100.00%

Honduras 36.75% 13.79% 49.47% 100.00%

Georgia 85.71% 12.40% 1.89% 100.00%

Kenya 74.85% 11.46% 13.69% 100.00%

Guatemala 88.98% 11.02% 0.00% 100.00%

Ethiopia 78.79% 9.64% 11.57% 100.00%

Kyrgyzstan 91.14% 8.86% 0.00% 100.00%

Peru 83.32% 8.77% 7.91% 100.00%

Colombia 91.99% 8.01% 0.00% 100.00%



specified Total


Tajikistan 93.17% 6.83% 0.00% 100.00%

Uganda 51.45% 6.42% 42.13% 100.00%

Azerbaijan 94.03% 5.97% 0.00% 100.00%

Senegal 69.75% 5.72% 24.53% 100.00%

Macedonia 82.74% 4.82% 12.43% 100.00%

Swaziland 78.16% 4.33% 17.51% 100.00%

Malawi 90.92% 3.71% 5.36% 100.00%

Tanzania 96.33% 3.67% 0.00% 100.00%

Angola 96.63% 3.37% 0.00% 100.00%

Burundi 97.17% 2.83% 0.00% 100.00%

Paraguay 97.24% 2.76% 0.00% 100.00%

Albania 84.39% 2.38% 13.23% 100.00%

Zambia 90.92% 1.64% 7.44% 100.00%

Mozambique 96.12% 1.19% 2.69% 100.00%

Kosovo 44.24% 0.94% 54.82% 100.00%

Rwanda 87.54% 0.02% 12.44% 100.00%

Armenia 100.00% 0.00% 0.00% 100.00%

Bangladesh 37.04% 0.00% 62.96% 100.00%

Bulgaria 0.00% 0.00% 100.00% 100.00%

Egypt 100.00% 0.00% 0.00% 100.00%

India 100.00% 0.00% 0.00% 100.00%

Jordan 94.97% 0.00% 5.03% 100.00%

Mali 0.00% 0.00% 100.00% 100.00%

Philippines 46.09% 0.00% 53.91% 100.00%



specified Total

South Sudan 100.00% 0.00% 0.00% 100.00%

Sri Lanka 100.00% 0.00% 0.00% 100.00%

Togo 100.00% 0.00% 0.00% 100.00%

West Bank/Gaza 100.00% 0.00% 0.00% 100.00%

Zimbabwe 100.00% 0.00% 0.00% 100.00%

Not reported 89.21% 3.49% 7.30% 100.00%

Grand Total 81.64% 9.76% 8.60% 100.00%


ANNEX 8

Table 21: Number of First-time/Repeat Borrowers, by Country (women-owned SMEs)

Country Repeat

borrowers

First-time

borrowers

Credit

history not

reported

Country Total

Angola — 2 — 2


Bosnia Herzegovina 1 — — 1

Burundi 1 — — 1

Colombia 111 330 — 441

DRC 10 4 — 14


Ecuador 414 92 — 506

El Salvador 30 17 — 47

Ethiopia 3 3 — 6

Georgia 3 3 — 6

Ghana 69 28 — 97


Guyana 32 3 38 73

Haiti 146 57 — 203

Honduras 5 2 — 7

Indonesia 98 430 — 528

Jamaica 195 12 — 207

Kenya 177 98 — 275

Kosovo 1 7 — 8

Kyrgyzstan — 1 — 1

Liberia 1 — — 1


Country Repeat

borrowers

First-time

borrowers

Credit

history not

reported

Country Total

Macedonia 40 71 — 111

Malawi 6 3 — 9

Moldova 2 3 — 5

Mongolia 34 23 — 57

Mozambique — 12 — 12

Nicaragua 13 28 — 41

Nigeria 1 8 3 12

Paraguay 5 5 — 10

Peru 218 129 — 347

Rwanda — 1 — 1

Senegal 21 5 — 26


Swaziland — 2 — 2

Tajikistan — 35 — 35

Tanzania 5 12 — 17

Uganda 5 22 59 86

Zambia 2 1 — 3

Not Reported 1 3 — 4

Grand Total 1790 1658 100 3548


ANNEX 9

Table 22: Division of First-Time/Repeat Borrowers, by Country (women-owned SMEs)

Country Repeat

borrowers

First-time

borrowers

Credit history

not reported Country Total

Angola 0.00% 100.00% 0.00% 100.00%

Kyrgyzstan 0.00% 100.00% 0.00% 100.00%

Mozambique 0.00% 100.00% 0.00% 100.00%

Rwanda 0.00% 100.00% 0.00% 100.00%

Swaziland 0.00% 100.00% 0.00% 100.00%

Tajikistan 0.00% 100.00% 0.00% 100.00%

Kosovo 12.50% 87.50% 0.00% 100.00%

Indonesia 18.56% 81.44% 0.00% 100.00%

Not reported 25.00% 75.00% 0.00% 100.00%

Colombia 25.17% 74.83% 0.00% 100.00%

Tanzania 29.41% 70.59% 0.00% 100.00%

Nicaragua 31.71% 68.29% 0.00% 100.00%

Nigeria 8.33% 66.67% 25.00% 100.00%


Macedonia 36.04% 63.96% 0.00% 100.00%

South Africa 38.89% 61.11% 0.00% 100.00%

Moldova 40.00% 60.00% 0.00% 100.00%

Albania 50.00% 50.00% 0.00% 100.00%

Ethiopia 50.00% 50.00% 0.00% 100.00%

Georgia 50.00% 50.00% 0.00% 100.00%

Paraguay 50.00% 50.00% 0.00% 100.00%

Azerbaijan 58.33% 41.67% 0.00% 100.00%

Mongolia 59.65% 40.35% 0.00% 100.00%


Country Repeat

borrowers

First-time

borrowers

Credit history

not reported Country Total

Peru 62.82% 37.18% 0.00% 100.00%

El Salvador 63.83% 36.17% 0.00% 100.00%

Kenya 64.36% 35.64% 0.00% 100.00%

Malawi 66.67% 33.33% 0.00% 100.00%

Zambia 66.67% 33.33% 0.00% 100.00%

Guatemala 70.97% 29.03% 0.00% 100.00%

Ghana 71.13% 28.87% 0.00% 100.00%

DRC 71.43% 28.57% 0.00% 100.00%

Honduras 71.43% 28.57% 0.00% 100.00%

Haiti 71.92% 28.08% 0.00% 100.00%

Uganda 5.81% 25.58% 68.60% 100.00%

Senegal 80.77% 19.23% 0.00% 100.00%

Ecuador 81.82% 18.18% 0.00% 100.00%

Jamaica 94.20% 5.80% 0.00% 100.00%

Guyana 43.84% 4.11% 52.05% 100.00%


Burundi 100.00% 0.00% 0.00% 100.00%

Liberia 100.00% 0.00% 0.00% 100.00%

Grand Total 50.45% 46.73% 2.82% 100.00%


ANNEX 10

Table 23: Number of First-Time/Repeat Borrowers, by Country (men-owned SMEs)

Country Repeat

borrowers

First-time

borrowers

Credit

history not

reported

Country Total

Angola 3 3 — 6

Armenia 1 — — 1


Bangladesh 2 1 — 3

Bosnia Herzegovina 15 13 — 28

Burundi 4 9 — 13

Colombia 109 545 — 654

DRC 23 14 — 37


Ecuador 547 134 — 681

Egypt 1 — — 1

El Salvador 148 32 — 180

Ethiopia 34 38 — 72

Georgia 44 14 — 58

Ghana 203 850 — 1053


Guyana 150 29 25 204

Haiti 657 142 2 801

Honduras 14 16 — 30

India — 2 — 2

Indonesia 403 1325 — 1728

Jamaica 83 9 — 92

Jordan 7 5 — 12

Kenya 420 248 — 668

Kosovo 49 225 — 274

Kyrgyzstan 1 2 — 3


Country Repeat

borrowers

First-time

borrowers

Credit

history not

reported

Country Total

Liberia 2 3 — 5

Macedonia 232 167 — 399

Malawi 49 32 — 81

Moldova 4 6 — 10

Mongolia 100 52 — 152

Mozambique 12 103 — 115

Nicaragua 54 61 — 115

Nigeria 40 26 76 142

Paraguay 95 50 — 145

Peru 903 739 — 1642

Philippines 2 — — 2

Rwanda 4 5 — 9

Senegal 349 39 1 389


South Sudan — 2 — 2

Sri Lanka — 1 — 1

Swaziland 15 22 — 37

Tajikistan 18 350 — 368

Tanzania 118 96 — 214

Togo 1 — — 1

Uganda 9 60 682 751

West Bank/Gaza — 1 — 1

Zambia 72 7 — 79

Zimbabwe 2 7 — 9

Not reported 14 18 — 32

Grand Total 5934 6553 786 13273


ANNEX 11

Table 24: Division of First-Time/Repeat Borrowers, by Country (men-owned SMEs)

Country Repeat

borrowers

First-time

borrowers

Credit history not

reported Country Total

India 0.00% 100.00% 0.00% 100.00%

South Sudan 0.00% 100.00% 0.00% 100.00%

Sri Lanka 0.00% 100.00% 0.00% 100.00%

West Bank/Gaza 0.00% 100.00% 0.00% 100.00%

Tajikistan 4.89% 95.11% 0.00% 100.00%

Mozambique 10.43% 89.57% 0.00% 100.00%

Colombia 16.67% 83.33% 0.00% 100.00%

Kosovo 17.88% 82.12% 0.00% 100.00%

Ghana 19.28% 80.72% 0.00% 100.00%

Zimbabwe 22.22% 77.78% 0.00% 100.00%

Indonesia 23.32% 76.68% 0.00% 100.00%

South Africa 27.27% 72.73% 0.00% 100.00%

Burundi 30.77% 69.23% 0.00% 100.00%

Kyrgyzstan 33.33% 66.67% 0.00% 100.00%

Liberia 40.00% 60.00% 0.00% 100.00%

Moldova 40.00% 60.00% 0.00% 100.00%

Swaziland 40.54% 59.46% 0.00% 100.00%


Not reported 43.75% 56.25% 0.00% 100.00%

Rwanda 44.44% 55.56% 0.00% 100.00%

Albania 46.15% 53.85% 0.00% 100.00%

Honduras 46.67% 53.33% 0.00% 100.00%

Nicaragua 46.96% 53.04% 0.00% 100.00%

Ethiopia 47.22% 52.78% 0.00% 100.00%

Angola 50.00% 50.00% 0.00% 100.00%


Peru 54.99% 45.01% 0.00% 100.00%


Country Repeat

borrowers

First-time

borrowers

Credit history not

reported Country Total

Tanzania 55.14% 44.86% 0.00% 100.00%

Macedonia 58.15% 41.85% 0.00% 100.00%

Jordan 58.33% 41.67% 0.00% 100.00%

Azerbaijan 59.49% 40.51% 0.00% 100.00%

Malawi 60.49% 39.51% 0.00% 100.00%

DRC 62.16% 37.84% 0.00% 100.00%

Kenya 62.87% 37.13% 0.00% 100.00%

Paraguay 65.52% 34.48% 0.00% 100.00%

Mongolia 65.79% 34.21% 0.00% 100.00%

Bangladesh 66.67% 33.33% 0.00% 100.00%

Georgia 75.86% 24.14% 0.00% 100.00%

Guatemala 77.13% 22.87% 0.00% 100.00%

Ecuador 80.32% 19.68% 0.00% 100.00%

Nigeria 28.17% 18.31% 53.52% 100.00%

El Salvador 82.22% 17.78% 0.00% 100.00%

Haiti 82.02% 17.73% 0.25% 100.00%

Guyana 73.53% 14.22% 12.25% 100.00%

Senegal 89.72% 10.03% 0.26% 100.00%

Jamaica 90.22% 9.78% 0.00% 100.00%

Zambia 91.14% 8.86% 0.00% 100.00%

Uganda 1.20% 7.99% 90.81% 100.00%

Armenia 100.00% 0.00% 0.00% 100.00%

Egypt 100.00% 0.00% 0.00% 100.00%

Philippines 100.00% 0.00% 0.00% 100.00%

Togo 100.00% 0.00% 0.00% 100.00%

Grand Total 44.71% 49.37% 5.92% 100.00%


ANNEX 12

Table 25: Distribution of First-Time Borrowers, by Sector and Gender

Type of SME Repeat

borrowers

First-time

borrowers

Credit history


Men-owned SMEs 44.7% 49.4% 5.9% 100.0%

Agriculture 35.3% 56.7% 8.0% 100.0%

Construction 78.6% 21.4% 0.0% 100.0%

Education 54.0% 46.0% 0.0% 100.0%

Energy 60.0% 40.0% 0.0% 100.0%


Forestry/Wood 64.1% 35.9% 0.0% 100.0%

Health 30.1% 16.8% 53.1% 100.0%

Information & Communication Technologies 51.2% 48.8% 0.0% 100.0%

Manufacturing 76.1% 22.5% 1.4% 100.0%

Other Service 48.8% 50.4% 0.7% 100.0%

Tourism 49.4% 50.6% 0.0% 100.0%

Trade/Commerce 61.1% 38.8% 0.0% 100.0%

Transportation 71.8% 28.2% 0.0% 100.0%

Sector not reported 91.0% 9.0% 0.0% 100.0%

Women-owned SMEs 50.5% 46.7% 2.8% 100.0%

Agriculture 31.0% 63.2% 5.8% 100.0%

Construction 80.0% 20.0% 0.0% 100.0%

Education 59.3% 40.7% 0.0% 100.0%

Energy 100.0% 0.0% 0.0% 100.0%


Forestry/Wood 80.0% 10.0% 10.0% 100.0%


Type of SME Repeat

borrowers

First-time

borrowers

Credit history


Health 38.1% 47.6% 14.3% 100.0%


Manufacturing 74.9% 22.8% 2.3% 100.0%

Other Service 43.8% 52.2% 4.0% 100.0%

Tourism 41.7% 58.3% 0.0% 100.0%

Trade/Commerce 63.2% 36.8% 0.0% 100.0%

Transportation 61.5% 38.5% 0.0% 100.0%


Gender of ownership not reported 8.0% 0.4% 91.6% 100.0%

Agriculture 3.4% 0.2% 96.4% 100.0%

Construction 65.2% 0.0% 34.8% 100.0%

Education 83.3% 0.0% 16.7% 100.0%

Energy 0.0% 0.0% 100.0% 100.0%


Forestry/Wood 83.3% 16.7% 0.0% 100.0%

Health 0.0% 0.0% 100.0% 100.0%


Manufacturing 1.9% 0.4% 97.7% 100.0%

Other Service 36.4% 18.2% 45.5% 100.0%

Tourism 0.0% 50.0% 50.0% 100.0%

Trade/Commerce 23.5% 0.0% 76.5% 100.0%

Transportation 60.0% 0.0% 40.0% 100.0%


Total 40.5% 41.9% 17.5% 100.0%

Unlocking growth through credit guarantees

Economy & Finance

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