The 2023 Annual Report is Here!

2023 was filled with innovation at Friendship Bridge that resulted in an even greater impact on nearly 35,000 women in Guatemala. We are pleased to share how our initiatives have flourished and expanded, guided by the four goals of our Strategic Plan. Browse the entire online report by clicking the link below to learn more about the following, and so much more:

• 17,000 women in total served through our Health for Life program since its founding (pg. 12)
• 80% of our Bridge to Success clients improved their business strategy and finances (pg. 13)
• Clients report a 7% reduction in poverty from 2022 to 2023, based on Poverty Stoplight (pg. 19)
• Received a Top Impact Award for Latin America in 2023, ranking #2 in Latin America among all microfinance organizations surveyed in the region (p. 21).

Friendship Bridge’s newest Friendship Circle allows volunteers in different communities to come together

Members of the Global Satellite Circle and Friendship Bridge staff meet on Zoom from their respective cities.

Seven individuals spanning seven different cities form one of Friendship Bridge’s newest Circles. Friendship Circles are groups of volunteers who support Friendship Bridge’s mission in Guatemala by hosting social gatherings, organizing fundraising efforts, and spreading the word with friends and family in their local communities. There are Circles nationwide, including in Colorado, California, Texas, and Oklahoma. Since 2023, there’s a Circle that meets online: the Global Satellite Friendship Circle.

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Event focuses on supporting women and girls’ causes around the world

President & CEO Tracie Cordeiro attended The Giving List Women Summit 2024 in Montecito, CA.

In April, Friendship Bridge was honored to attend The Giving List Women Summit in Montecito, California, an event which highlighted the critical need to direct more philanthropic dollars toward organizations supporting women and girls. According to a recent article in the Chronicle of Philanthropy, less than 2% of all philanthropic funds are allocated to such causes. The Giving List Women seeks to help change this statistic by connecting people who wish to invest in such causes with organizations that support women and girls.

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Dear Friendship Bridge Family,

2023 was a great year full of new achievements for Friendship Bridge, development for our clients, progress for our staff, and good news about our many programs designed to empower Guatemalan women and eliminate poverty.

As I reflect on my inaugural year as President & CEO, I am deeply moved by the dedication and hard work exhibited by both our staff and our clients. This was a year of significant transition in organizational leadership, coupled with challenges surrounding the presidential election in Guatemala. Your unwavering commitment to Friendship Bridge amidst these changes is truly commendable and does not go unnoticed. I am also filled with gratitude that, with the collective effort of everyone involved, we were able to serve nearly 35,000 women in 2023. Thank you all for your outstanding contributions!

As we plan for the year ahead in 2024, there are still more milestones to reach, but we are staying well-aligned with the goals outlined in our 2021–2025 Strategic Plan, Impact². Continue reading to discover the multitude of accomplishments that your support has contributed to!

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For the third consecutive year, the Women’s Entrepreneur Awards ceremony was streamed online in Spanish on Facebook Live for Bridge to Success clients and potential clients. 195 participants entered (an increase of 9% compared to 2022), and nine women received an award of one of the three categories: Successful Entrepreneur, Exemplary Client, and Outstanding Woman.

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For Teresa, the business training and advice she has received through the Bridge to Success program has been a gift that keeps on giving—it has helped her earn more income and grow her customer base at her bakery. Teresa’s transformation from watching online videos to mastering the art of baking in a class taken while in our Bridge to Success program highlights the real difference between self-taught skills and professional training. This shift in her learning approach significantly enhanced the quality of her offerings, making her cakes a favorite in her community.

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Microfinance clients rank Friendship Bridge high for access, business impact, client protection, and resilience in Latin America

As a microfinance institution (MFI), we don’t just distribute small loans to impoverished people—we pride ourselves in building strong relationships with our clients, so they can in turn increase their resilience, grow their businesses, create generational change, and experience greater empowerment.

But how well are we achieving these goals, compared to other MFIs? 60 Decibels’ Microfinance Index strives to answer this in its newly released 2023 report. Continue Reading →

60 Decibels’ report reveals positive trends toward next-generation impact among Friendship Bridge clients

One of the reasons we support women in Guatemala is because we have a vested interest in creating intergenerational change among impoverished families, as reflected in our Theory of Change. When our clients have the financial resources to keep their children in school, it can change the trajectory of their futures.
“We care deeply about breaking the cycle of generational poverty, and we have so many stories of clients who have experienced intergenerational impact because of Friendship Bridge,” said Caitlin Scott, Chief Strategy Officer at Friendship Bridge. “But we wanted more concrete evidence to show this.”
As a result, Friendship Bridge commissioned the global impact measurement company,  60 Decibels, to measure how our clients are experiencing change. Here’s what their research discovered. Continue Reading →

An important part of measuring the social impact we have in Guatemalan women’s lives comes from partnering with 60 Decibels—a global impact measurement company that is the producer of the world’s first microfinance impact benchmark. Based on phone interviews with 277 of our clients conducted this year, 60 Decibels’ trained researchers have compiled insights about our clients, the outcomes they experience, how satisfied they are, and how we can improve our impact and business performance.

The 2023 Microfinance Index Insights Report reveals that Friendship Bridge received a Top Impact Award for Latin America, ranking #2 in Latin America among all microfinance organizations surveyed in the region.  

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On July 14, 2023, we celebrated the opening of our newest branch office in Chicacao, Guatemala. One of the opening ceremony’s impactful moments came when our client, Elena, told her story of involvement with Friendship Bridge. She started her journey as a Trust Bank member, entered our Bridge to Success program as an Entrepreneur, and later won 1st place in the Successful Entrepreneur category at the 2022 Women’s Entrepreneur Awards. Elena shared how Friendship Bridge has helped her on her path to development and empowerment. 

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We were proud to be part of the Central American and Caribbean Microfinance Conference held this March. Nearly a thousand people participated in keynote lectures and panels on different financial, economic, social, and technological topics by renowned speakers and managers of major microfinance companies.

Under the theme, “resilience and reactivation of inclusive finance in the face of the new reality,” the conference was organized by the Central American and Caribbean Microfinance Network (REDCAMIF) and the Network of Microfinance Institutions of Guatemala (REDIMIF). During the conference, our Chief Strategy Officer Caitlin Scott participated in a panel discussing the launch of the European Microfinance Award 2023.

Since the conference was located in Guatemala this year, more of our staff were able to attend, and we had a greater opportunity to educate conference attendees about Friendship Bridge’s mission. Attendees were able to sign up for Friendship Bridge site visits during which they got to meet our clients, learn about our work, and learn how they can support us.

So many of our supporters have wonderful memories of Anita Bunch (1940-2023) and her ongoing commitment to Friendship Bridge. Following are personal recollections from our colleague, Nancy Hiester.

I met Anita in the year 2000 as I embarked upon my career with Friendship Bridge. She was a bit nervous about me since I was brand new. Within a few minutes of interaction, we became kindred spirits, close colleagues, friends, spiritual pals, and partners for life helping Friendship Bridge succeed in all endeavors. Anita’s smile always lit up the room and reflected compassion, grace, humor, and spice.

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