PROJECT

Projects

Summary of Investment Information

Project Number

35418

Company Name

FINCA UNIVERSAL CREDIT ORGANIZATION CJSC

Date SPI Disclosed

Sep 4, 2014

Country

Armenia

Region

Europe

Projected Board Date

Oct 6, 2014

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Oct 29, 2014
Signed : Nov 18, 2014
Invested : Jul 28, 2015

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The proposed transaction aims to support FINCA UCO CJSC (“Finca Armenia” or “the Company”), a strong microfinance provider in Armenia, through a local currency loan which would facilitate resources for the Company’s micro and small entrepreneurs (“MSEs”) portfolio expansion (the “Project”). Finca Armenia is a subsidiary of FINCA Microfinance Holding Company, LLC (“FMH”) a strategic IFC partner who promotes financial inclusion and access to financial services to the underserved, low-income people and communities through its twenty two subsidiaries in Africa, Latin America, Eurasia and the Middle East.

The Project would aim to achieve various objectives: (i) provide funding for Finca Armenia’s MSEs portfolio growth; (ii) reduce foreign exchange and maturity risk by providing long term local currency funding; and (iii) strengthen the relationship with FINCA International and FMH by supporting its subsidiaries.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation