Unlocking growth through credit guarantees

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This report, authored by Lara Storm, is an analysis of loans given to women-owned small and medium enterprises through USAID's Development Credit Authority (DCA) loan guarantee program. DCA's loan database covers 70 countries; although the sample size of loans where gender of the firm owner was reported remains small.

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Unlocking growth through credit guarantees

  1. 1. 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.
  2. 2. Unlocking Growth Through Credit Guarantees 2 UNLOCKING GROWTH THROUGH CREDIT GUARANTEES: An overview analysis of loans to woman-owned SMEs
  3. 3. 3 Unlocking Growth Through Credit Guarantees 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
  4. 4. Unlocking Growth Through Credit Guarantees 4 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
  5. 5. 5 Unlocking Growth Through Credit Guarantees 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
  6. 6. Unlocking Growth Through Credit Guarantees 6 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
  7. 7. 7 Unlocking Growth Through Credit Guarantees 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.
  8. 8. Unlocking Growth Through Credit Guarantees 8 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.
  9. 9. 9 Unlocking Growth Through Credit Guarantees 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.
  10. 10. Unlocking Growth Through Credit Guarantees 10 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.
  11. 11. 11 Unlocking Growth Through Credit Guarantees 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$8,623 Number of Risk Sharing Partners 259 Countries with DCA Guarantees 70 Leverage 23
  12. 12. Unlocking Growth Through Credit Guarantees 12 GLOBAL RESULTS 20 Please see Table 25 in the Appendix for loan size distribution by gender of the borrower’s owner. This analysis also disregards some loans under the Housing category, which went to individuals rather than SMEs, and loans under the Infrastructure category, which went to municipalities and other public entities. 22 The DCA may offer multiple guarantees in a country, each with different intents, terms, and lending partners. 22 For 14.2 percent of loans, lenders did not report on gender of ownership. Table 2: Median Loan Size (US$) 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%
  13. 13. 13 Unlocking Growth Through Credit Guarantees 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%
  14. 14. Unlocking Growth Through Credit Guarantees 14 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
  15. 15. 15 Unlocking Growth Through Credit Guarantees 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 %ofPortfolio(outofUS$523.3million) 0% 10% 20% 30% 40% 50% 60% AFRICA ASIA E&E LAC MENA Worldwide N/A Women-owned SMEs Men-owned SMEs Figure 5: Breakdown of Number of Loans by Region and Gender %ofLoans(outof19,599)
  16. 16. Unlocking Growth Through Credit Guarantees 16 Table 3: Arrears as % of Total Number of SME Loans, by Region Region Women-owned SMEs Men-owned SMEs Gender of ownership unknown Overall average Africa 4.0% 3.7% 1.8% 3.3% Asia 6.3% 7.7% 0.0% 7.4% E&E 4.5% 6.1% 3.1% 5.0% LAC 4.9% 6.4% 3.3% 5.7% MENA — — — — Overall average 5.0% 5.8% 3.0% 5.3% 30 Lending partners in Bulgaria and Mali did not report on gender of ownership. 31 Armenia, Bangladesh, Egypt, India, Jordan, Philippines, South Sudan, Sri Lanka, Togo, West Bank/Gaza, Zimbabwe
  17. 17. 17 Unlocking Growth Through Credit Guarantees Table 4: Median Loan Size (US$) 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.
  18. 18. Unlocking Growth Through Credit Guarantees 18 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.
  19. 19. 19 Unlocking Growth Through Credit Guarantees 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
  20. 20. Unlocking Growth Through Credit Guarantees 20 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%
  21. 21. 21 Unlocking Growth Through Credit Guarantees 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%
  22. 22. Unlocking Growth Through Credit Guarantees 22 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
  23. 23. 23 Unlocking Growth Through Credit Guarantees 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% PercentageofallSMEloans Men-owned Women-owned N/A Figure 7: Loans to First-time Borrowers Borrowers
  24. 24. Unlocking Growth Through Credit Guarantees 24 Table 11: Comparison of First-Time Borrowers, by Sector Sector Repeat Borrowers First-time Borrowers Gender not specified Total Fisheries/Aquaculture 34.88% 56.98% 8.14% 100.00% 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%
  25. 25. 25 Unlocking Growth Through Credit Guarantees 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%
  26. 26. Unlocking Growth Through Credit Guarantees 26 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% Number not reported 4.7% 89.5% 5.8% 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% Number not reported 2.0% 83.2% 14.8% 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% Number not reported 10.9% 0.4% 88.7% 100.0% Overall average 40.5% 41.9% 17.5% 100.0%
  27. 27. 27 Unlocking Growth Through Credit Guarantees 7. CONCLUSION
  28. 28. Unlocking Growth Through Credit Guarantees 28 8. RECOMMENDATIONS FOR USAID
  29. 29. 29 Unlocking Growth Through Credit Guarantees ANNEX 1 BUSINESS/SECTOR DEFINITIONS USED IN DCA LOAN CLASSIFICATIONS:
  30. 30. Unlocking Growth Through Credit Guarantees 30 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
  31. 31. 31 Unlocking Growth Through Credit Guarantees Country Men-owned SMEs Women-owned SMEs Gender not 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
  32. 32. Unlocking Growth Through Credit Guarantees 32 Country Men-owned SMEs Women-owned SMEs Gender not 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
  33. 33. 33 Unlocking Growth Through Credit Guarantees 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% $13,000 85.08% 78.90% 0.00% 20.00% 40.00% 60.00% 80.00% 100.00% 120.00% Cumulativepercentage Loan size, upper limit of range (USD) Loan size distribution by gender of borrower's owner Loans to women- owned SMEs Loans to men-owned SMEs
  34. 34. Unlocking Growth Through Credit Guarantees 34 Loan size, upper limit (US$) 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 Country Men-owned SMEs Women-owned SMEs Gender not 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%
  35. 35. 35 Unlocking Growth Through Credit Guarantees Country Men-owned SMEs Women-owned SMEs Gender not 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%
  36. 36. Unlocking Growth Through Credit Guarantees 36 Country Men-owned SMEs Women-owned SMEs Gender not 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%
  37. 37. 37 Unlocking Growth Through Credit Guarantees 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 Country Men-owned SMEs Women-owned SMEs Gender not 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% Dominican Republic 84.96% 15.04% 0.00% 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%
  38. 38. Unlocking Growth Through Credit Guarantees 38 Country Men-owned SMEs Women-owned SMEs Gender not 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% Bosnia Herzegovina 93.33% 3.33% 3.33% 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%
  39. 39. 39 Unlocking Growth Through Credit Guarantees Country Men-owned SMEs Women-owned SMEs Gender not 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%
  40. 40. Unlocking Growth Through Credit Guarantees 40 ANNEX 5 Table 18: Portfolio Allocation, by Country and Gender (US$) Country Men-owned SMEs Women-owned SMEs Gender not 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
  41. 41. 41 Unlocking Growth Through Credit Guarantees Country Men-owned SMEs Women-owned SMEs Gender not specified Country Total 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
  42. 42. Unlocking Growth Through Credit Guarantees 42 Country Men-owned SMEs Women-owned SMEs Gender not specified Country Total 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
  43. 43. 43 Unlocking Growth Through Credit Guarantees ANNEX 6 Table 19: Portfolio Allocation, by Country and Gender (% of total, US$523.3 million) Country Men-owned SMEs Women-owned SMEs Gender not 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% Dominican Republic 1.48% 0.25% 0.00% 1.73% Bosnia Herzegovina 1.79% 0.16% 0.02% 1.97% 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%
  44. 44. Unlocking Growth Through Credit Guarantees 44 Country Men-owned SMEs Women-owned SMEs Gender not 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%
  45. 45. 45 Unlocking Growth Through Credit Guarantees Country Men-owned SMEs Women-owned SMEs Gender not 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%
  46. 46. Unlocking Growth Through Credit Guarantees 46 ANNEX 7 Table 20: Country Portfolio Distribution, by Gender Country Men-owned SMEs Women-owned SMEs Gender not 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% Dominican Republic 85.59% 14.41% 0.00% 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%
  47. 47. 47 Unlocking Growth Through Credit Guarantees Country Men-owned SMEs Women-owned SMEs Gender not specified Total Bosnia Herzegovina 90.92% 7.92% 1.17% 100.00% 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%
  48. 48. Unlocking Growth Through Credit Guarantees 48 Country Men-owned SMEs Women-owned SMEs Gender not 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%
  49. 49. 49 Unlocking Growth Through Credit Guarantees 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 Azerbaijan 14 10 — 24 Bosnia Herzegovina 1 — — 1 Burundi 1 — — 1 Colombia 111 330 — 441 DRC 10 4 — 14 Dominican Republic 96 175 — 271 Ecuador 414 92 — 506 El Salvador 30 17 — 47 Ethiopia 3 3 — 6 Georgia 3 3 — 6 Ghana 69 28 — 97 Guatemala 22 9 — 31 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
  50. 50. Unlocking Growth Through Credit Guarantees 50 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 South Africa 7 11 — 18 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
  51. 51. 51 Unlocking Growth Through Credit Guarantees 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% Dominican Republic 35.42% 64.58% 0.00% 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%
  52. 52. Unlocking Growth Through Credit Guarantees 52 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% Bosnia Herzegovina 100.00% 0.00% 0.00% 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%
  53. 53. 53 Unlocking Growth Through Credit Guarantees 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 Azerbaijan 94 64 — 158 Bangladesh 2 1 — 3 Bosnia Herzegovina 15 13 — 28 Burundi 4 9 — 13 Colombia 109 545 — 654 DRC 23 14 — 37 Dominican Republic 634 897 — 1531 Ecuador 547 134 — 681 Egypt 1 — — 1 El Salvador 148 32 — 180 Ethiopia 34 38 — 72 Georgia 44 14 — 58 Ghana 203 850 — 1053 Guatemala 172 51 — 223 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
  54. 54. Unlocking Growth Through Credit Guarantees 54 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 Africa 9 24 — 33 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
  55. 55. 55 Unlocking Growth Through Credit Guarantees 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% Dominican Republic 41.41% 58.59% 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% Bosnia Herzegovina 53.57% 46.43% 0.00% 100.00% Peru 54.99% 45.01% 0.00% 100.00%
  56. 56. Unlocking Growth Through Credit Guarantees 56 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%
  57. 57. 57 Unlocking Growth Through Credit Guarantees ANNEX 12 Table 25: Distribution of First-Time Borrowers, by Sector and Gender Type of SME Repeat borrowers First-time borrowers Credit history not reported Grand Total 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% Fisheries/Aquaculture 43.3% 56.7% 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% Fisheries/Aquaculture 21.1% 78.9% 0.0% 100.0% Forestry/Wood 80.0% 10.0% 10.0% 100.0%
  58. 58. Unlocking Growth Through Credit Guarantees 58 Type of SME Repeat borrowers First-time borrowers Credit history not reported Grand Total Health 38.1% 47.6% 14.3% 100.0% Information & Communication Technologies 63.6% 36.4% 0.0% 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% Sector not reported 87.1% 12.9% 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% Fisheries/Aquaculture 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% Information & Communication Technologies 80.0% 0.0% 20.0% 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% Sector not reported 0.0% 0.0% 100.0% 100.0% Total 40.5% 41.9% 17.5% 100.0%

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