PROJECT

Projects

Summary of Investment Information

Project Number

36410

Company Name

FINANCIAMIENTO PROGRESEMOS SA DE CV SOFOM ENR

Date SPI Disclosed

Mar 6, 2015

Country

Mexico

Region

Latin America and the Caribbean

Projected Board Date

Apr 8, 2015

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jul 9, 2026

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Apr 22, 2015
Signed : May 19, 2015
Invested : Jul 10, 2015

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The project is to extend a Mexican Peso (MXN) line of credit to continue supporting the loan portfolio growth in Financiamiento Progresemos, S.A. de C.V., SOFOM, E.N.R. (“Progresemos” or the “Company”). The proposed project will reach women micro-entrepreneurs in frontier regions and will (i) enhance micro lending competitiveness of the private sector; (ii) help deepening the financial sector since a high portion of the sub-borrowers served are outside the formal financial sector; and (iii) encourage a sustainable social and environmental development.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation