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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 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
3041/MS-ME Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 3041/MS-ME
  • 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

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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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