The project seeks to respond to the liquidity and financing challenges faced by households and businesses in vulnerable and poor segments - as well as the providers of inclusive financial service (PIFS) that serve them - as a result of emergencies produced by natural and other disasters in Central America. The project will support Fundacion Covelo in: (i) responding immediately to the emergency financing needs arising from the natural catastrophes that occurred in 2020; and (ii) the creation of a financial vehicle ("facility") with a permanent horizon to respond to crises generated by natural emergencies, financial crises, or of crises of different nature that affect the supply of financial services or that have the effect of reducing economic activity in the countries of Central American in the future. The proposed new vehicle will respond to the emergency financing needs and demands of PIFS that serve the poorest and vulnerable segments of the region (savings and credit cooperatives, rural agricultural cooperatives, and microfinance institutions). With the availability of such financing, it will sustainably strengthen the supply inclusive financial services catering to thousands of individuals, households, and micro and small enterprises with agile and innovative solutions.

Project Detail

Country

Regional

Project Number

RG-L1155

Approval Date

November 15, 2021

Project Status

Implementation

Project Type

Loan Operation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

-

Total Cost

USD 4,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 4,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
5406/TD-RG Non-Sovereign Guaranteed USD - United States Dollar Specialized Financial Intermediary Devel MIF Financing
5407/TD-RG Non-Sovereign Guaranteed USD - United States Dollar Specialized Financial Intermediary Devel MIF Financing
5443/MS-RG-DE Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 5406/TD-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Specialized Financial Intermediary Devel
  • Financial Instrument: MIF Financing
Operation Number 5407/TD-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Specialized Financial Intermediary Devel
  • Financial Instrument: MIF Financing
Operation Number 5443/MS-RG-DE
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: MIF Financing

Can’t find a document? Request information

 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1018230114-3
Donors Memorandum
RG-L1155 Project Summary.pdf
May. 12, 2022
English

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