to enhance the development impact of workers' remittances
to Guatemala from the United States through an innovative
structured transaction to finance the expansion of medium to
long-term credit to (i) small businesses, (ii) mortgage loans,and (iii) the recipients of remittances, mainly mortgage loans to these recipients paid by remittance flows.
The MIF's involvement helps to support a growing market
with profound social repercussions: the impact of workers'
remittances in LAC. This is an important catalytic role of the MIF because it enhances the development impact of
remittance flows and will help Bancafé to leverage its
Guatemalan workers' remittance flows from the United
States and expand its medium to long-term loan portfolio in
Guatemala.
Project Detail
Country
Guatemala
Project Number
GU-L1103
Approval Date
August 3, 2005
Project Status
Cancelled
Project Type
Loan Operation
Sector
-
Subsector
-
Lending Instrument
Instrumento del Fondo Multilateral de Inversiones
Lending Instrument Code
MIF
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 5,000,000.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 5,000,000.00