Evaluation of the Sida – MiBanco Guarantee Program

Final Report

  • Year: 2026

  • Publication type: Decentralised evaluation

  • Author: Jairo Andrés Rendón, Juan Manuel García, Tatiana Rodríguez Moreno

Summary

The Sida – MiBanco Guarantee (2018 – 2023) aimed to mobilize private capital and expand access to finance for micro-enterprises in Colombia that face barriers to credit, especially among women, in rural areas and prioritized territories.

Main method: Mixed methods; a difference-in-difference study of effectiveness at the municipal level and an analysis of stakeholder interviews using a grounded theory approach.

Positives: the guarantee expanded access to credit in higher-risk contexts. There were statistically significant increases in both the total amount disbursed and the number of loans granted in municipalities covered by the guarantee compared to non-covered municipalities. The instrument facilitated the approval of loans that were less likely to be approved without Sida’s guarantee.

Potential shortcomings: The evaluation did not detect effects of the guarantee among Sida’s prioritized target groups (rural municipalities, targeted territories or women-owned businesses). Women’s share in the guaranteed portfolio did not exceed the bank’s overall portfolio, and no attributable effects were identified on the proportion of loans granted to women.

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  • Topic: Including economic developmentEconomic developmentGender equalityGender equality

  • Geographic area: Colombia

  • Language: English

  • Publication number: 2026:02