Microfinance Focus, September 23, 2011: A survey conducted by The Development Bank of Latin America- CFA – in 17 cities and several countries reveals that access to financial services in Latin America is still limited. Only 53% of the population has an account with a bank or a microfinance institution and only 12.3% of families have applied for and currently have a bank credit or loan.

The survey is a part of CAF’s seventh Report on Economy and Development (RED 2011) that addresses access to financial services in Latin America and their relationship with the development of the countries in the region.

In the case of Bolivia, the report highlights the significant development of its microfinance system, which has permitted Bolivia to rank relatively well in Latin America in terms of access to services of this type.