PROJECT

Projects

Summary of Proposed Investment

Project Number

20524

Company Name

Banco Procredit, S.A

Date SPI Disclosed

Jul 29, 2003

Country

Nicaragua

Industry

Financial Markets

Projected Board Date

Oct 10, 2003

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Global Industry, Financial Markets

Environmental Category

FI-1 - Significant

Previous Events

Approved : Feb 3, 2004
Signed : Mar 16, 2004
Invested : Jul 16, 2004

Project Description

The project consists of a $5.0 million credit line to Corporación Nicaragüense Financiera (Confia, or the company) S.A. Confia is a financial institution supervised by the Superintendency of Banks of Nicaragua and is specialized in lending to micro-entrepreneurs. Confia began operating in 2000, and since then has become the leading Nicaraguan microfinance institution.

Sponsor / Cost / Location

Development Impact