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Consolidation of FIS Empresa Social S.A.
The project has two components: (i) a reimbursable financing component for US$500,000, and (ii) a nonreimbursable technical-cooperation component for US$250,000.

The reimbursable financing component (IDB: US$500,000, local US$2,000,000) will be allocated to finance the purchase of inventory, equipment, fixed assets, and other productive assets for 12,500 microentrepreneurs in the southern suburbs of Buenos Aires, i.e. owners of businesses that have been operating for at least one year, who will receive microcredits from FIS under the credit regulations contained in the technical file. Approximately 60% of beneficiaries who receive financing will be women, and at least 20% will be dynamic microentrepreneurs with differentiated patterns of growth in sales, profits, or employment. Credit will be extended for between US$140 and US$650 using a group or individual lending methodology. FIS will supplement the reimbursable financing component with US$2 million in funds from other sources.

The technical-cooperation component (IDB: US$250,000) will be allocated for the institutional strengthening of FIS. Specifically, technical assistance activities and the procurement of equipment and systems will be aimed at: (i) improving FIS's business model; (ii) training FIS's credit advisors and middle management; (iii) designing market-based credit products; (iv) implementing financial management tools; and (v) scaling FIS's equipment and systems to the volume of operations.

Project Detail

Country

Argentina

Project Number

AR-L1212

Approval Date

April 17, 2006

Project Status

Closed

Project Type

Loan Operation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MICROENTERPRISE DEVELOPMENT

Lending Instrument

Programa de Empresariado Social & Pequeños Proyectos

Lending Instrument Code

SMP

Modality

-

Facility Type

-

Environmental Classification

-

Total Cost

USD 2,500,000.00

Country Counterpart Financing

USD 2,000,000.00

Original Amount Approved

USD 500,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
SP/ID-06-02-AR Non-Sovereign Guaranteed USD - United States Dollar Italian Trust Fund for Micro-enterprise Small Project Financing
Operation Number SP/ID-06-02-AR
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Italian Trust Fund for Micro-enterprise
  • Financial Instrument: Small Project Financing

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Other Documents
https://www.iadb.org/document.cfm?id=EZSHARE-1309822560-766
SEP - Social Entrepreneurship Program
ARGENTINA_ Funding for the consolidation of FIS Empresa Social S_A_ [717145].PDF
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-1309822560-864
SEP - Social Entrepreneurship Program
ARGENTINA_ Consolidación de FIS, Empresa Social S_A_ [731742].PDF
Dec. 31, 1999
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1309822560-2160
Executive Summaries papers
ARGENTINA_ Consolidación del Programa FIS-Microcrédito [647808].PDF
Dec. 31, 1999
Spanish

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