Enhance Development Impact of Workers' Remittances
Development Objective. The main objective of the Project is
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 Classification

-

Total Cost

USD 5,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 5,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
96/MS-GU Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 96/MS-GU
  • 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