Accounting & Fin. Homogenitation for Inr
The objective of the project is to support a process leading to formalization of a group of at least 15 nonregulated microfinance institutions (NMFI's) in Colombia, by standardizing the management and reporting of their accounting and financial information. The specific objectives are: a) to unify the charts of accounts of the NWIS, through the development and/or adjusting of their internal accounting systems; b) to establish and implement standardized financial accounting formulas and standards, following universal prudential criteria in line with the sector and with the regulations of the Superintendency of Banks; c) to standardize the reporting of accounting and financial information of NMFIs in order to be able to compare their performance and improve their chances of accessing new sources of financing; and d) to support EMPR in developing an ongoing monitoring mechanism to ensure that the management and reporting of accounting and financial information of NMFIs is consistently sound and accurate in the future.

Project Detail

Country

Colombia

Project Number

TC9907024

Approval Date

September 17, 1999

Project Status

Closed

Project Type

Technical Cooperation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

PRIVATE FIRMS AND SME DEVELOPMENT

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 580,000.00

Country Counterpart Financing

USD 250,000.00

Original Amount Approved

USD 330,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-6658-CO Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-6658-CO
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable