Promoting the Financial Inclusion of Migrants
The project seeks to facilitate the financial inclusion of the migrant population in Chile and Peru. It will do so by supporting the expansion of Migrante SF (MSF), a platform for credit and other digital financial services that offers products focused on migrants and adapted to their needs. It has a strong emphasis on financing agents of the "gig-economy" --a sector in which employment opportunities and income generation are opening up for migrants-- supporting them in the purchase of productive assets (such as, motorcycles and vehicles). It also offers housing rental guarantees, loans to individuals for revalidation of titles, and insurance. The company operates in Chile and is expanding to Peru.

Project Detail

Country

Regional

Project Number

RG-L1157

Approval Date

October 28, 2021

Project Status

Closed

Project Type

Loan Operation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Multilateral Investment Fund Instrument

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 5,850,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 1,500,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
5387/MS-RG Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 5387/MS-RG
  • 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

Can’t find a document? Request information

 Preparation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-932446419-4
Profile
IDEATE 2022-03-21 Public Summary 1048 RG-L1157 (1).pdf
Mar. 21, 2022
English
 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-932446419-1
Donors Memorandum
RG-L1157 Resumen del proyecto.pdf
Nov. 11, 2021
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-932446419-2
Donors Memorandum
RG-L1157 Project Summary.pdf
Nov. 11, 2021
English

Have an Environmental or Social issue related to IDB projects? File a Complaint