Consolidation of FIS Empresa Social S.A.

The project has two components: (i) a reimbursable financing component for US$500,000, and (ii) a nonreimbursable technical-cooperation component for US$250,000. The reimbursable financing component (IDB: US$500,000, local US$2,000,000) will be allocated to finance the purchase of inventory, equipment, fixed assets, and other productive assets for 12,500 microentrepreneurs in the southern suburbs of Buenos Aires, i.e. owners of businesses that have been operating for at least one year, who will receive microcredits from FIS under the credit regulations contained in the technical file. Approximately 60% of beneficiaries who receive financing will be women, and at least 20% will be dynamic microentrepreneurs with differentiated patterns of growth in sales, profits, or employment. Credit will be extended for between US$140 and US$650 using a group or individual lending methodology. FIS will supplement the reimbursable financing component with US$2 million in funds from other sources. The technical-cooperation component (IDB: US$250,000) will be allocated for the institutional strengthening of FIS. Specifically, technical assistance activities and the procurement of equipment and systems will be aimed at: (i) improving FIS's business model; (ii) training FIS's credit advisors and middle management; (iii) designing market-based credit products; (iv) implementing financial management tools; and (v) scaling FIS's equipment and systems to the volume of operations.

Project Detail

Country

Argentina

Project Number

AR-S1004

Approval Date

April 17, 2006

Project Status

Closed

Project Type

Technical Cooperation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MICROENTERPRISE DEVELOPMENT

Lending Instrument

Programa de Empresariado Social & Pequeños Proyectos

Lending Instrument Code

SMP

Modality

Facility Type

Environmental Classification

Total Cost

USD 250,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 250,000.00

Financial Information

Operation Number	Lending Type	Reporting Currency	Reporting Date	Signed Date	Fund	Financial Instrument
ATN/ID-9770-AR	Non-Sovereign Guaranteed	USD - United States Dollar	Jun. 30, 2024	Sep. 14, 2006	Italian Trust Fund for Micro-enterprise	Nonreimbursable

Operation Number

ATN/ID-9770-AR

Lending Type: Non-Sovereign Guaranteed
Reporting Currency: USD - United States Dollar
Reporting Date: Jun. 30, 2024
Signed Date: Sep. 14, 2006
Fund: Italian Trust Fund for Micro-enterprise
Financial Instrument: Nonreimbursable

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