Bolivia has the most advanced microfinance sector in Latin America and has been a model worldwide. Apex banks- banks that lend to banks - have not been responsible for this success. Apex banks can provide funds for retail microfinance organizations, and/or strengthen their organizational development. The existing apex has done little market development. It has provided some liquidity to microfinance organizations, but it has not played an indispensable role. The various apexes planned for the future are unneeded. In fact, they may disincentive deposit mobilization and create an unfair playing field and thus hurt microfinance in Bolivia.
