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RG-T3822 : Regional Financial Facility: Response to Climate and Natural Emergencies in Central America

Project Status: Implementation

The project seeks to support the creation of a facility to respond to the liquidity and financing challenges faced by households and businesses in vulnerable and poor segments - as well as the providers of inclusive financial service (PIFS) that serve them - as a result of emergencies produced by natural and other disasters in Central America. The project will support Fundacion Covelo in: (i) responding immediately to the emergency financing needs arising from the natural catastrophes that occurred in 2020; and (ii) the creation of a financial vehicle ("facility") with a permanent horizon to respond to crises generated by natural emergencies, financial crises, or of crises of different nature that affect the supply of financial services or that have the effect of reducing economic activity in the countries of Central American in the future. The proposed new vehicle will respond to the emergency financing needs and demands of PIFS that serve the poorest and vulnerable segments of the region (savings and credit cooperatives, rural agricultural cooperatives, and microfinance institutions). With the availability of such financing, it will sustainably strengthen the supply inclusive financial services catering to thousands of individuals, households, and micro and small enterprises with agile and innovative solutions.

Project Detail

Project Number
RG-T3822
Approval date
February 17, 2021
Project Country
Regional
Project Sector
FINANCIAL MARKETS
Project Subsector
FINANCIAL INCLUSION
Project Type
Technical Cooperation
Project Lending Type
NSG
Project Modality
Project Facility Type
Project Status
Implementation
Operation Number
ATN/ME-18548-RG

Financial Information

Project Number
RG-T3822
Project Status
Implementation

IDB Financing

Financing type
TCN
Fund
Multilateral Investment Fund II (MIF) -
Reporting currency
USD - United States Dollar
Reporting date
May/26/2023

Roles & Responsibilities

Contract signature date
Mar/29/2021

Project Information

Total Cost
USD 600,000
Country counterpart financing
USD 300,000
Amount
USD 300,000

Approved

Title
Type
Project Number
Date Published
Donors Memorandum
RG-T3822
February 16, 2022