PROJECT

Projects

Summary of Investment Information

Project Number

36172

Company Name

CREDIVALORES CREDISERVICIOS S A S

Date SPI Disclosed

Mar 23, 2015

Country

Colombia

Region

Latin America and the Caribbean

Projected Board Date

Apr 24, 2015

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 : Apr 24, 2015
Signed : May 20, 2015
Invested : Jul 6, 2015

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

The purpose of this project is to increase the access to finance to the lower segment of the population in Colombia by supporting Credivalores-Crediservicios S.A.S (“CV”, the "Company" or "Credivalores"), a non-banking financial institution ("NBFI") focused on lending to low and middle income households in medium and small cities of the country. IFC will provide a Pesos-linked loan of up to US$20 million equivalent.

Credivalores is a NBFI that resulted from the merger of two sister companies in 2009 (Crediservicios S.A. and Credivalores S.A), which were established in Cali – Colombia in 2003 with the purpose of lending to individuals and small companies. The Company focuses on payroll-deduction loans, consumer lending collected through public utility bills and financing of insurance policies to low and middle income individuals.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation