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BR-M1106 : Creation of a Microfinance Bank in the Nordeast Region

Project Status: Cancelled

The objective of the project is to develop a sound microfinance institution and promote microfinance investments in Brazil, to increase the availability of financial services for microenterprises. The purpose of the project is to create a new bank specialized in microfinance that will serve the Northeast region. The project will consist of an equity investment in shares of the new bank, and an accompanying technical cooperation to train staff and help structure the new organization.

Project Detail

Project Number

BR-M1106

Approval date

December 14, 2011

Project Country

Brazil

Project Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Project Subsector

MICROENTERPRISE DEVELOPMENT

Project Type

Technical Cooperation

Project Lending Type

NSG

Project Modality

Project Facility Type

Environmental and social impact category

B13

Project Status

Cancelled

Operation Number

ATN/ME-13112-BR

Financial Information

Project Number

BR-M1106

Project Status

Cancelled

IDB Financing

Financing type

TCN

Fund

Multilateral Investment Fund II (MIF) -

Reporting currency

USD - United States Dollar

Reporting date

Jun/30/2023

Roles & Responsibilities

Project Information

Total Cost

USD 2,305,500

Country counterpart financing

USD 1,110,000

Amount

USD 1,195,500

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