Rural Micro-savings Accounts Using Mobile Phones and Cards
In Peruvian rural areas, the cost of offering microsavings accounts to low income families through traditional branches limit financial intermediaries from offering them. Even those financial intermediaries, such as the Municipal Savings Banks that target low income microentrepreneurs cannot serve those clients with traditional branch operations. The project seeks to provide access to financial services in remote rural areas. Initially, it will focus on micro savings, which have been shown to reduce vulnerability of low income families to unexpected events, increase investments in productive activities and family needs and and promote savings as a way to increase their opportunities to grow and improve quality of lives. MIF additionality will result from testing new use of existing technologies (mobile phones and pre-paid phone cards).Technology for promoting micro savings and accessing remote areas with a reliable, and well positioned partner. This is likely to generate key lessons for replication and scale up of rural microsavings with low income families in other parts of the region.

Project Detail

Country

Peru

Project Number

PE-M1085

Approval Date

December 12, 2012

Project Status

Closed

Project Type

Technical Cooperation

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)

Category C: Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 1,028,500.00

Country Counterpart Financing

USD 407,500.00

Original Amount Approved

USD 621,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-13611-PE Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-13611-PE
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable

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 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-2035356630-12128
Project Performance Monitoring Reports
MIF_ Project Status Report ATN_ME-13611-PE [40690999].PDF
Oct. 03, 2016
English
https://www.iadb.org/document.cfm?id=EZSHARE-2035356630-12276
Project Performance Monitoring Reports
FOMIN_ Reporte de estado del proyecto ATN_ME-13611-PE [40228812].PDF
Apr. 07, 2016
English
https://www.iadb.org/document.cfm?id=EZSHARE-2035356630-10497
Project Performance Monitoring Reports
MIF_ Project Status Report ATN_ME-13611-PE [39868371].PDF
Sep. 22, 2015
English
https://www.iadb.org/document.cfm?id=EZSHARE-2035356630-9301
Project Performance Monitoring Reports
MIF_ Project Status Report ATN_ME-13611-PE [39493153].PDF
Mar. 19, 2015
English
https://www.iadb.org/document.cfm?id=EZSHARE-2035356630-11374
Project Performance Monitoring Reports
MIF_ Project Status Report ATN_ME-13611-PE [39054777].PDF
Sep. 15, 2014
English
https://www.iadb.org/document.cfm?id=EZSHARE-2035356630-13506
Project Performance Monitoring Reports
MIF_ Project Status Report ATN_ME-13611-PE [38723943].PDF
Apr. 08, 2014
English
https://www.iadb.org/document.cfm?id=EZSHARE-1983553961-31733
Technical Cooperation Agreement
Peru_ Nonreimbursable Technical Cooperation ATN_ME-13611PE Rural Micro-Savings Accounts Using Mobile Phones and [37219114].PDF
Nov. 03, 2014
English
https://www.iadb.org/document.cfm?id=EZSHARE-1983553961-31734
Technical Cooperation Agreement
Proposed Resolution PE-M1085 Cuentas de Microahorro Rural Mediante Telefonía Móvil y Tarjetas Prepagadas [37219119].PDF
Nov. 03, 2014
Spanish

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