Creation of a Microfinance Bank in the Nordeast Region

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

Country

Brazil

Project Number

BR-Q0011

Approval Date

December 14, 2011

Project Status

Cancelled

Project Type

Equity

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MICROENTERPRISE DEVELOPMENT

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

Facility Type

Environmental and Social Impact Category (ESIC)

Total Cost

USD 20,500,000.00

Country Counterpart Financing

USD 18,000,000.00

Original Amount Approved

USD 2,500,000.00