● practice● Active
Community Savings and Credit Groups (GACC) in Colombia
Scale
local
subnational
national
systemic
Description
Program of self-managed savings and credit groups (Village Savings and Loans model, VSL) implemented in Colombia since 2012 in seven rural departments. Groups of 15-25 people, mostly women, meet every one or two weeks to save, approve internal loans and collect payments, without depending on an external microfinance institution.