Revitalizing and Strengthening Entrepreneurship among Low-Income Youth (IADB-CO-M1100)

Countries
  • Colombia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
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
C
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
Aug 4, 2016
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
Government of Colombia
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1.00
Converted using 2016-10-05 exchange rate.
Project Cost (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported USD 2,000,000
Converted using 2016-10-05 exchange rate.
Primary Source

Original disclosure @ IADB website

Updated in EWS Aug 16, 2017

Disclosed by Bank Oct 5, 2016


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

Project Description
The aim of this project is to increase the number of unemployed, underemployed, or in vulnerable employment youth (18-30 years old) in Colombia that successfully starts or grow their businesses and create new jobs. The proposed model will consist of a partnership of ten chambers of commerce, which will be coordinated by the Confederación Colombiana de Cámaras de Comercio [Colombian Confederation of Chambers of Commerce] (CONFECAMARAS) and will support young low-income entrepreneurs (ages 18 to 35) in two main areas: advisory support for better business management and access to finance.
Investment Description
  • Inter-American Development Bank (IADB)
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).