The number of small businesses in Argentina receiving microcredit is expected to double to 100,000 within the next three years, creating opportunities for banks in the country. Experts say there is the potential for about one million small businesses to take out microcredit in Argentina. However, realistically, they expect the number to rise to 500,000 within 10 years.
Raúl Zavalia, president of the Argentine Network of Microcredit Institutions (ANMI) and executive director of Fundación Pro-Vivienda, a microcredit organisation, says: “Argentina’s economic crisis of 2001 to 2002 changed everything. Before that disaster, Argentines preferred to get salaried employment and were reluctant to work for themselves.
