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Opportunity International Colombia Finance Co. Start Up
The overall objective of the project is to increase access to financial services for poor and microenterprise in urban and rural areas of Colombia's population. The specific objective is the creation of a new IMF monitored in Colombia that serves about 90,000 people with services of credit, savings, remittances and insurance within five years.
The project will cost a total of US $ 9.5 MM, of which up to US $ 500,000 will be provided by MIF, divided between an investment in the capital of the new entity up to US $ 900,000 (10% of the initial capital) and US300. 000 technical cooperation. OI and its affiliates and partner organizations provide a minimum 90% stake in the new entity regulated, equivalent to US $ 9,000,000 initials, and a counterpart of US $ 300,000 technical cooperation. The expected time for project implementation is 3 years.

Project Detail

Country

Colombia

Project Number

CO-Q0007

Approval Date

November 4, 2009

Project Status

Closed

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 Classification

-

Total Cost

USD 8,500,000.00

Country Counterpart Financing

USD 7,400,000.00

Original Amount Approved

USD 1,100,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
EQU/MS-11880-CO Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund Equity Financing
Operation Number EQU/MS-11880-CO
  • 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

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Other Documents
https://www.iadb.org/document.cfm?id=EZSHARE-1780737853-389
MIF Project Product
Itaú, Hyundai y Opportunity, a punto de entrar a sistema financiero colombiano [36691713].PDF
Feb. 20, 2012
Spanish

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