Transforming and Differentiating Financial Services for Low-income Populations

The project will support the growth of FINCA Mexico's in rural and underserved areas and the subsequent transformation of the institution in the first "niche" Bank of Mexico serving female and male low-income micro entrepreneurs with a range of differentiated products including savings, credit, insurance and others. The MIF resources involved include a technical cooperation of U.S. $ 500,000 and a loan equivalent to U.S. $ 5.0 million to be disbursed and repaid in local currency through an innovative SWAP operation with the Interamerican Investment Corporation (IIC) to be made ¿¿by the MIF for the first time in its history, opening the possibility of a new line of work in the provision of funds in local currencies that are highly demanded by microfinance institutions in the region.

Project Detail

Country

Mexico

Project Number

ME-L1195

Approval Date

October 23, 2013

Project Status

Closed

Project Type

Loan Operation

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 5,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 5,000,000.00

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Implementation Phase

https://www.iadb.org/document.cfm?id=EZSHARE-1983553961-31854

Technical Cooperation Agreement

Transformando y Diferenciando Servicios Financieros para Poblaciones de Bajos Ingresos [38131216].PDF

Jan. 21, 2015

Spanish

https://www.iadb.org/document.cfm?id=EZSHARE-1983553961-31855

Technical Cooperation Agreement

Transforming and Differentiating Financial Services for Low-income Populations [38131779].PDF

Jan. 21, 2015

English

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