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-M1003

Approval Date

August 3, 2005

Project Status

Cancelled

Project Type

Technical Cooperation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL MARKETS

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

Facility Type

Environmental and Social Impact Category (ESIC)

Total Cost

USD 300,000.00

Country Counterpart Financing

USD 100,000.00

Original Amount Approved

USD 200,000.00

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Preparation Phase

https://www.iadb.org/document.cfm?id=EZSHARE-540551123-4004

Project Abstract

Project Abstract for MIF project GU-M1003 - ATN_ME-9331-GU [1792985].PDF

Dec. 31, 1999

English

https://www.iadb.org/document.cfm?id=EZSHARE-540551123-570

Project Abstract

Enhance Development Impact of Workers Remittances [588552].DOC

Dec. 31, 1999

English

Implementation Phase

https://www.iadb.org/document.cfm?id=EZSHARE-540551123-561

Donors Memorandum

GU-M1003 - Banco del Cafe, S_A_ [574209].DOC

Dec. 31, 1999

English