Hugo Technologies: Digitalizing Central America and the Caribbean
Direct equity investments in the next super app and the first potential unicorn in Central America and the Caribbean, which can leapfrog digitalization and crate job opportunities in the region. The main objective is to develop a new culture among corner stores by strengthening the capacities of small merchants in Central America through digital efficiency and by diversifying their portfolio by offering digital financial services such as paying bills or phone recharges.

Project Detail

Country

Regional

Project Number

RG-Q0071

Approval Date

June 25, 2021

Project Status

Closed

Project Type

Equity

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

SMALL AND MEDIUM ENTERPRISE

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 5,900,000.00

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
EQU/MS-18662-RG Non-Sovereign Guaranteed USD - United States Dollar
Operation Number EQU/MS-18662-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund:
  • Financial Instrument:

Can’t find a document? Request information

 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1362140836-3
Donors Memorandum
RG-Q0071 Resumen Ejecutivo.pdf
Nov. 25, 2021
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1362140836-4
Donors Memorandum
RG-Q0071 Executive Summary.pdf
Nov. 25, 2021
English

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