Camesa Revolver (IFC-40066)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 29, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.39 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 4, 2018

Disclosed by Bank Aug 28, 2017

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC:

"The project aims to provide a flexible financing package to Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.P. (“CAMESA”), an existing IFC client, involving a 3-year Revolving Loan Facility for up to MXN180 million (the “Project”). The proceeds from the Project will be used for on-lending to micro enterprises in Mexico."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

CAMESA is a regulated microfinance company that provides financial services to the lower-income sectors in Mexico. It was established in 2005 as a transition from Desarrolladora de Emprendedores AC (“DEAC”) a non-for-profit institution created in 1998. Both CAMESA and DEAC are part of the CAME Program whose activities started in 1985 to help the victims of the earthquake. In December 2009, CAMESA received authorization by the Banking and Securities Commission (“CNBV”) to operate as a SOFIPO, a regulated, deposit-taking non-banking financial institution (“NBFI”). Together with the CAME Program, CAMESA has over 24 years of group lending experience in Mexico.
CAMESA is formed by a shareholder group consisting of DEAC, several individuals/employees led by the families Hubard and Cantu and member clients. Its main and original founder is Mr. Alfredo Hubard, a recognized microfinance expert in Mexico. He also cofounded ProDesarrollo, the Mexican MFI Association.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.P.
Federico Manzano Lopez
General Manager of CAME Group and CAMESA’s Board Member
+52 55 53 403070 ext. 124
fmanzano@came.org.mx
Avenida Colonia del Valle 615, 2nd floor. Colonia del Valle. Benito Juarez, 03100. Mexico City. MEXICO
www.came.org.mx

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works