PROJECT

Projects

Summary of Proposed Investment

Project Number

29634

Company Name

Banco Compartamos, S.A., Institución de Banca Múltiple

Date SPI Disclosed

Aug 30, 2010

Country

Mexico

Industry

Financial Markets

Projected Board Date

Sep 30, 2010

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Regional Industry FIG LAC & EUR

Environmental Category

FI

Previous Events

Approved : Dec 6, 2010
Signed : May 19, 2011
Invested : Aug 29, 2011

Project Description

The proposed investment in Banco Compartamos, S.A. de C.V.’s (“Compartamos”, or the “Bank”) fits well with IFC’s industry strategy to support locally-based microfinance companies that have a developmental focus. The proposed investment will be in the form of a 5-year Parallel Loan for up to MXN400 million ($32 million equivalent) to support the Bank’s loan portfolio growth. The proceeds from the credit line will be used by Compartamos to increase and diversify its funding base by obtaining medium-term funding for on lending to small and micro enterprises in Mexico. The project represents an opportunity for IFC to support a long-standing partner in expanding its operations and overcoming the current liquidity conditions in the sector. At the same time, IFC would be mobilizing funds from a Mexican commercial lender willing to participate under similar conditions.

Sponsor / Cost / Location

Development Impact