IDB loan to INTERFISA will finance project to broaden access to credit with a gender-based approach, through the innovative NdeVale business model
The Inter-American Development Bank (IDB) has approved a $5 million loan from its Opportunities for the Majority sector to Grupo Internacional de Finanzas SAECA (INTERFISA), the goal of which is to expand access to financing for micro and small businesses that are run or owned by women, mostly at the base of the economic pyramid.
The project, known as Access to Rural Financing with a Gender-based NdeVale Approach, will help unbanked Paraguayan women at the base of the pyramid inctrease access to finance and reduce their vulnerability through loans designed specifically for micro and small businesses in rural areas.
“This will be the first financing initiative with a gender-based approach in the country and it is expected to have a major impact,” said Christian Schneider, IDB project team leader.
The project will aid more than 5,000 micro and small businesses that are run or owned by women who generally do not have access to financing, and also teach them business administration skills.
The NdeVale business model consists of a loan tied to the cash flow of each of the clients and to their business cycle.
About Opportunities for the Majority
Established by the IDB in 2006, Opportunities for the Majority promotes and finances market-based, sustainable business models that bring together private companies, local governments, and communities in developing and supplying quality products and services to people at the base of the socio-economic pyramid in Latin America and the Caribbean.