Summary of Proposed Investment
Project Number
8282
Company Name
Banco Pyme Los Andes ProCredit S.A.
Date SPI Disclosed
May 13, 1997
Country
Bolivia
Industry
Financial Markets
Status
Completed
Sector
Microfinance and Small Business - Non Commercial Banking
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Nov 4, 1998
Signed : Mar 9, 1999
Invested : May 6, 1999
Project Description
REVISED Summary Of Project Information (SPI)
| Project Name | Bolivia - Caja de Los Andes |
| Region | Latin America & Caribbean |
| Sector |
Projected Board DateJune 30, 1998
Company NameCaja de Ahorro y Prestamo Los Andes, S.A.
Technical Partner and/or Major Shareholders
Procredito, a Bolivian NGO dedicated solely to microlending is the principal shareholder. Smaller shareholdings are held by an affiliate of the Inter-American Development Bank (IDB) and Corporacion Andina de Fomento (CAF).
Project Cost Including proposed IFC investment
US$4 million of which the lesser of up to 25% or up to US$1 million would be an IFC equity investment and up to US$3 million would be a credit line to Los Andes.
Location of project and Description of site
La Paz, Bolivia
Description of Company and Purpose of Project
Los Andes was established as a regulated finance company in 1995,dedicated to microlending. It took over the portfolio and operations of Procredito. Its approach to microlending is based on a detailed analysis of "family economics" rather than the Solidarity approach followed by Grameen Bank (Bangladesh) and BancoSol (Bolivia). The project will support the process of Los Andes'' transformation into a strong, efficient market-driven micro-lending institution. The development impact is expected to be strong in Bolivia where the micro enterprise sector employs nearly 60% of the work force and where about 55% of the population lives below the poverty line. IFC has strong institution building and resource mobilization roles.
Environmental Category and Issues
The project is classified as an FI according to IFC''s Environmental Review Procedure. Los Andes will be required to commit to the use of an exclusion list as part of the application review process and will disseminate appropriate environmental information to loan applicants.
| Date SPI sent to Infoshop: Revised: | May 23, 1997 May 13, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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