Digital Technology Solutions for an Interconnected Financial Ecosystem
The project seeks to contribute to the digital transformation of the financial sector, in order to improve the quality of its services; improve efficiency and client outreach, and to promote financial inclusion. The project will help to build and consolidate an interconnected financial network. which will integrate different financial players (such as financial institutions, FinTech companies and others) in one single open platform (called 4wrd). The platform will allow financial intermediaries to access financial technology solutions offered by FinTech companies from around the world, test this solutions in a "technological sandbox" and implement those that better fit their needs and those of their clients. The project will also help participating financial intermediaries to improve their ability to develop and implement digital transformation strategies. The project will have a Technical Cooperation component, as well as an Investment component, that will inject equity into the company "Above and Beyond" that owns the 4fwrd platform.

Project Detail

Country

Regional

Project Number

RG-G1017

Approval Date

September 26, 2018

Project Status

Closed

Project Type

Investment Grants

Sector

FINANCIAL MARKETS

Subsector

FINANCING FOR ENVIRONMENTAL SUSTAINABILITY

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 1,650,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 950,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
GRT/ME-16943-RG Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Contingent Grant Financing
Operation Number GRT/ME-16943-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Contingent Grant Financing