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-Q0135

Approval Date

September 17, 2024

Project Status

Implementation

Project Type

Equity

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)

-

Total Cost

USD 1.00

Country Counterpart Financing

-

Original Amount Approved

USD 1.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
EQU/MS-21121-RG Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund Equity Financing
Operation Number EQU/MS-21121-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: Equity Financing