Camesa Revolver (IFC-40066)

Countries
  • Mexico
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
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 15.39 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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


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Project 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
  • International Finance Corporation (IFC)
Private Actors

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

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/