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Emergency and Crisis Regional Financial Facility
The project seeks 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

Country

Regional

Project Number

RG-L1152

Approval Date

February 17, 2021

Project Status

Closed

Project Type

Loan Operation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

Uncategorized Directive B.13

Total Cost

USD 56,000,000.00

Country Counterpart Financing

USD 52,000,000.00

Original Amount Approved

USD 2,000,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
5223/MS-RG Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 5223/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

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Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-827767681-1
RG-L1152, RG-Q0068 _ RG-T3822 - Project summary.pdf
Published Jun. 14, 2021
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https://www.iadb.org/document.cfm?id=EZSHARE-827767681-2
RG-L1152, RG-Q0068 _ RG-T3822 - Resumen del proyecto.pdf
Published Jun. 15, 2021
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