Program to Promote the Social Economy (FONAES)

Housed in Mexico’s National Institute of Social Economy (INAES), the federal agency FONAES has 824 employees. It provides financial advice and training as well as microfinance programs. In 2009, some 80 percent of the agency’s small loans were given to women. More recently, FONAES supported 5,371 projects in 2014; of those, 2,942 were focused solely or mostly on women. These projects accounted for 49 percent of the total INAES budget. These loans alone connected over 188,000 women to financial assistance. FONAES plans to make gender a cross-cutting theme in its work. The agency hopes to strengthen training for women in order to help them develop the administrative, financial management, and human development skills needed to contribute to their communities and add value to the economy. FONAES is also known as the National Fund of Support for Businesses in Solidarity.