Expanding rural financial services to communities with young leaders (IADB-ES-S1019)

Countries
  • El Salvador
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
Active
Bank Risk Rating
U
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 25, 2015
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
CREDICAMPO
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)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 0.36 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Jun 29, 2016


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Project Description
The purpose of the project is to support the Sociedad Cooperativa de Ahorro y Crédito Credicampo de Responsabilidad Limitada de Capital Variable (CREDICAMPO) in expanding the coverage of its financial services (community credit), reaching new communities and rural clients, as well as developing new products suitable to the profile of rural clients. This project will help increase the income derived from the productive activities of small producers and rural inhabitants who are clients of Credicampo. The objective of the project is to support the expansion of rural households’ access to Credicampo financing, by offering new financial products and increasing community participation by young leaders.
Investment Description
  • Inter-American Development Bank (IADB)
There are two components to this investment, a reimbursable financing component and a non-reimbursable Technical Cooperation component. IADB's Multulateral Investment Fund (MIF) will fund US$0.25 million of the Technical Cooperation, and US$1 million in a reimbursable loan (see Related Projects). There is local counterpart financing of US$460,000. The total project cost is US$1.71 million; US$360,000 of which will be the Technical Cooperation component.
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).