The goal of this Program is to increase the availability of financial products and services targeted to low income populations. The purpose is to establish the business case for the development and implementation of liquid and contractual savings products targeted to recipients of conditional cash transfers or other social protection payments in the LAC region. The expected outcomes of this Program are: (i) 136,000 CCT recipients access liquid or contractual savings accounts; (ii) an additional 45,000 low income people access, for the first time; and (iii) 14 Financial Institutions (FIs) offer liquid savings accounts for transactions purposes and/or contractual savings for capital accumulation.
Project Detail
Country
Regional
Project Number
RG-O1661
Approval Date
March 16, 2011
Project Status
Implementation
Project Type
Container
Sector
FINANCIAL MARKETS
Subsector
BANKING MARKET DEVELOPMENT
Lending Instrument
-
Lending Instrument Code
-
Modality
Facility
Facility Type
FFG (Facility Financing for Grants)
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 3,758,285.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 3,758,285.00