80% of FE's portfolio is located in the area affected by the earthquake, which corresponds to the regions (V, VI, VII, VIII, IX and Metropolitan). Of these, 45% of the portfolio was affected by the earthquake which correspond to more than 13,800 families. The earthquake and tsunami generated mass destruction in the disaster area (regions VI, VII and VIII that have high rates of relative poverty in the country). It is estimated that around 25% of FE clients in these territories lost their home and / or your business (infrastructure and / or fixed assets). The remaining 75% keep their home or business infrastructure but have total or partial loss of goods and / or machinery and not have the resources to restrain this. Therefore the impaired portfolio may well surpass the $3 million. FE needed to continue their services, restructure the impaired portfolio and provide a solution to these women to enable them to continue their businesses and support their families.
Project Detail
Country
Chile
Project Number
CH-L1117
Approval Date
August 4, 2010
Project Status
Cancelled
Project Type
Loan Operation
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 2,390,000.00
Country Counterpart Financing
USD 1,290,000.00
Original Amount Approved
USD 1,100,000.00
| Operation Number | Lending Type | Reporting Currency | Reporting Date | Signed Date | Fund | Financial Instrument |
|---|---|---|---|---|---|---|
| 2364/MS-CH | Non-Sovereign Guaranteed | USD - United States Dollar | MIF-Small Enterprise Investment Fund | MIF Financing |
- Lending Type: Non-Sovereign Guaranteed
- Reporting Currency: USD - United States Dollar
- Reporting Date:
- Signed Date:
- Fund: MIF-Small Enterprise Investment Fund
- Financial Instrument: MIF Financing