The main objective of the project is to strengthen financial inclusion services for Venezuelan migrants and their families by allowing them to save and send money safely and economically through digital asset exchanges. We intend to achieve these goals by scaling up and strengthening the platform of a financial inclusion start-up. The project aims to design, develop and test additions and modifications to the financial inclusion start-up platform in order to (i) lower the cost of services for the end user, (ii) make services more easily accessible to vulnerable populations, and (iii) reduce operational risks associated with financial management.

Project Detail

Country

Colombia

Project Number

CO-T1600

Approval Date

December 4, 2020

Project Status

Closed

Project Type

Technical Cooperation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 1,000,279.00

Country Counterpart Financing

USD 500,279.00

Original Amount Approved

USD 500,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-18435-CO Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-18435-CO
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable