Digital Financial Services in an Ecosystem of Inclusion
The overall objective of this project is to create a digital financial solution focused on providing simple and flexible low-cost financial products (nano-credits and nano-insurance), and to create a payment ecosystem that allows unbanked people to manage all their money from their cell phones. Thus achieving visibility and being the first contact with the financial system. The purpose is to give people visibility, so that they can access formal financial products in an easy and fast way; with the objective of breaking cycles of poverty that in Colombia are accentuated through the so-called drop-by-drop credits or lenders, who have high interest rates, mostly 1% daily which equals a very high effective annual.

Project Detail

Country

Colombia

Project Number

CO-T1489

Approval Date

November 26, 2018

Project Status

Closed

Project Type

Technical Cooperation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 400,000.00

Country Counterpart Financing

USD 200,000.00

Original Amount Approved

USD 200,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-17091-CO Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-17091-CO
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable

Can’t find a document? Request information

 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-183801935-2
TC Document
CO-T1489 - CO-L1239 - Project summary.pdf
Jan. 15, 2019
English
https://www.iadb.org/document.cfm?id=EZSHARE-183801935-3
TC Document
CO-T1489 - CO-L1239 - Resumen del proyecto.pdf
Jan. 15, 2019
Spanish

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