Innovative Financing for Businesses in Low-Income Communities
The project seeks to leverage market-driven solutions to create transformative impact for vulnerable populations in disconnected and poor parts of Colombia, leveraging technology, when appropriate, for improved business performance. The objective is to generate local economic development by supporting sustainable businesses that are owned and managed by local entrepreneurs, providing them with new business development tools such as adapted financial products and strategy advice.

Project Detail

Country

Colombia

Project Number

CO-G1022

Approval Date

September 17, 2020

Project Status

Implementation

Project Type

Investment Grants

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

ENTERPRISE DEVELOPMENT, CLUSTERS AND INNOVATION

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

Category B13: Uncategorized Directive B.13

Total Cost

USD 2,850,000.00

Country Counterpart Financing

USD 1,350,000.00

Original Amount Approved

USD 1,500,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
GRC/ME-18226-CO Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Contingent Grant Financing
Operation Number GRC/ME-18226-CO
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Contingent Grant Financing