Honduras suffers from deep-seated problems, including political instability, corruption and social injustice. These factors directly affect economic growth and development. The presence of drug trafficking and organized crime further complicates the situation, disrupting the economy and affecting the investment climate.
Most people work in the agricultural sector, mainly in the production of coffee, tobacco and bananas for export. This sector contributes to the economy, but often offers little prospect of sustainable prosperity for workers.
Young people are especially hard hit by limited economic opportunities and high unemployment. Many feel compelled to resort to emigration in search of better opportunities elsewhere.
BRS has worked closely with the microfinance organization Pilarh for many years, supporting it with advice, coaching and training. Among other things, Pilarh has developed savings products for young people and a credit fund for young entrepreneurs with BRS's support.
Despite challenging political and economic conditions in Honduras, Pilarh has managed to become fully operationally independent and has continued to grow for several years.
Better yet, for several years BRS MF Coop has been providing loans to Pilarh so it can continue its growth.
Although our structural cooperation and project visits have ended, BRS continues to support Pilarh from a distance.
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Take a look behind the scenes at the creation of the Leuven mosaic by the Honduran artist José Osorio. José is one of the young entrepreneurs who was able to develop his business through a loan from BRS partner PILARH ODPF.
