Summary of Proposed Investment
Project Number
11731
Company Name
Banco Pyme Los Andes ProCredit S.A.
Date SPI Disclosed
Nov 22, 2002
Country
Bolivia
Industry
Financial Markets
Projected Board Date
Dec 30, 2002
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Jun 5, 2003
Signed : Jun 27, 2003
Invested : Sep 19, 2003
Project Description
Caja’s core objective, once it becomes a fully licensed bank, is to promote efficient financial intermediation by facilitating the integration of economically underprivileged social sectors to the formal financial system of Bolivia. The bank will achieve this goal through enhanced funding and a wider product range. The developmental impact of IFC’s investment in Banco Los Andes is expected to be far reaching in terms of its economic support for productive businesses, stimulus for growth, employment generation and confidence-building in the banking sector. IFC's investment is in line with World Bank strategy as demonstrated by the expected developmental impact described above. Furthermore, IFC support, both financial and knowledge sharing, is key to Caja’s successful conversion.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Sr. Pedro Ariola, General Manager, Oficina Nacional Av. America, No. 203, La Paz, Bolivia.