PROJECT

Projects

Summary of Proposed Investment

Project Number

20099

Company Name

Banco Solidario S.A.

Date SPI Disclosed

Nov 22, 2002

Country

Bolivia

Industry

Financial Markets

Projected Board Date

Feb 15, 2003

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Global Industry, Financial Markets

Environmental Category

FI

Previous Events

Approved : May 6, 2003
Signed : Jul 8, 2003
Invested : Apr 26, 2004

Project Description

Founded in 1987, Banco Sol is the first commercial bank in Latin America to focus on microcredit activities. The purpose of the credit line would be to increase Banco Sol’s on-lending activities while extending the tenor of its small business and micro loan portfolio. This project will also allow Banco Sol to increase the outreach of its lending operations. There are 600,000 small and microentrepreneurs in Bolivia and the sector represents 20-25% of Bolivian GDP. This project is expected to reach 30,000 new clients during the tenor of the credit line.

Sponsor / Cost / Location

Development Impact