How Medellín is breaking the grip of illegal lending

Daniel Grisales of Medellín used a loan from the city’s Bancuadra program to invest in his empanada shop. Previously, his only option to access credit would have been through loan sharks tied to gangs.

By Juan Paullier

In the latest of our summer-long series checking in with the Latin American winners and finalists of the 2016 Mayors Challenge, Bloomberg Cities visits Medellín, Colombia, to learn more about the city’s micro lending program, Bancuadra.

Para la versión en español, haga click aquí.

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Celebrating public sector progress and innovation in cities around the world. Run by @BloombergDotOrg’s Government Innovation program. bloombergcities.org

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Bloomberg Cities

Celebrating public sector progress and innovation in cities around the world. Run by @BloombergDotOrg’s Government Innovation program. bloombergcities.org