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

Multilateral Investment Fund Instrument

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
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
EQU/MS-13113-BR Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund Equity Financing
Operation Number EQU/MS-13113-BR
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: Equity Financing