28547 - WWB Popayan II

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Summary of Proposed Investment

Project Number

28547

Company Name

FUNDACION MUNDO MUJER

Date SPI Disclosed

Nov 19, 2009

Country

Colombia

Industry

Financial Markets

Projected Board Date

Dec 22, 2009

Status

Completed

Sector

Microfinance and Small Business - Non Commercial Banking

Department

Regional Industry FIG LAC & EUR

Environmental Category

Previous Events

Approved : Mar 25, 2010
Signed : Apr 13, 2010
Invested : Jul 22, 2011

Project Description

The proposed project involves supporting Fundación Mundo Mujer Popayan (“FMM Popayan” or the “Company”), a local specialized microfinance institution that is one of the Colombian associates of the Women’s World Banking Network. Through IFC’s financing, FMM Popayan will be able to continue growing and diversifying its funding sources in order to increase financing options for low income individuals who are currently underserved, specially micro entrepreneurs and women located in rural areas.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	6.0
Equity

Development Impact

The development impact of IFC’s financing to FMM Popayan is expected to be high, as it will enhance the Company’s ability to support productive MSMEs which will in turn stimulate growth, employment generation and poverty reduction. IFC’s financing will also lead to the incorporation of women and their families to economic activities. In addition, FMM Popayan will be able to increase its outreach and sustainability incorporating thousands of new micro enterprises to the formal financial sector. With IFC’s US$6 million loan, the Company will be able to reach directly over 15.000 new clients within the next four years.

This project involves IFC support for the business of Microfinance and has been classified as a Category FI project. Under an existing project, #24466, the client has developed a satisfactory SEMS and is up-to-date with E&S reporting requirements.

Considering the nature of activities supported, the project will be required to:

- Maintain a procedure relevant to its business process that is satisfactory to IFC, and that ensures that all its investments are screened and processed to avoid supporting activities on the microfinance exclusion list
- Maintain qualified persons to manage and implement the procedure
- Demonstrate commitment and resources to implementing the procedure
- Demonstrate commitment to applying the labor standards established by the IFC Performance Standard 2: Labor and Working Conditions
- Continue to submit a periodic report to IFC as per a format to be provided by IFC

Contacts

For Inquiries About the Project, Contact

Fundación Mundo Mujer Popayán
Leonor Melo de Velasco, President
Carrera 11 No. 5-70
Popayan, Colombia
Telephone: +572 839 9900
www.fmm.org.co

For Inquiries and Comments About IFC, Contact

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2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

IFC Bogota
Cra. 7 No. 71-21 Torre A Piso 14
Bogotá D.C. - Colombia
Tel: +(571) 319 2330 Fax: (571) 319 2359

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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