PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

605426

Primary Business Area

Financial Institutions Group

Disclosure Date

Feb 1, 2021

Country

Colombia

Region

Latin America and the Caribbean

IFC Approval Date

Aug 13, 2020

Status

Active

Estimated Total Budget

$180,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Apr 20, 2021

Project Estimated Start Date

Sep 1, 2020

Project Estimated End Date

Mar 1, 2022

Project Description

The project will support Bancamia, a microfinance institution with 54% of its clients being women, in developing and testing a value proposition and a minimum viable product (MVP) for FDP with legal status in one geographic location. Based on pre implementation activities, this project will develop the following components: 1) A qualitative market assessment and institutional assessment 2) Developing the value proposition 3) Roadmap for implementing the value proposition 4) A pilot and 5) Raising awareness and engagement with the financial sector. IFC 3.0 Strategy is integrated into the project as it will work with key stakeholders at three levels: institutional (Bancamia), macro (Regulator), and micro (Legal Venezuelan FDP), focusing on addressing market failures, creating new markets and strengthening markets where needed.

Development Results

E&S Risks / Impacts and Mitigation