Federacion de Cajas de Credito y de Bancos de los Trabajadores, Sociedad Cooperativa de Responsabilidad Limitada de Capital Vari
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Fedecredito is a federation of 55 member cooperatives, which provides technical assistance and funding to its members. The 55 member cooperatives together own 100 percent of Fedecredito. The cooperatives in turn are owned by their 934k members/ shareholders.
What is our funding objective?
FMOs loan will be on-lent by Fedecredito to its members.
Why do we fund this investment?
We have committed to: - reduce inequality in El Salvador (wealth gap). Fedecredito’s UBOs are about 1 million low-to-mid income Salvadorans and by providing debt we support further increase of Fedecredito’s equity value which is ultimately owned by this 1/6 of the population in El Salvador. - support financial inclusion in El Salvador. By supporting Fedecredito who leads and manages the growth of the network Fedecredito (Sistema Fedecredito) which has 625+ service points throughout El Salvador being most outreaching and largest banking network in the country. There is no place in El Salvador where within a 20 kilometer range you are not able to find a service point of Sistema Fedecredito. - mobilize/catalyze global partnerships. We have brought new investors to Fedecredito: DEG, Proparco, Ecobusiness Fund, Triodos and Actiam. - make Fedecredito Green. By supporting Fedecredito in boosting Sistema Fedecredito’s agricultural portfolio aligned with the biodiversity goals of EcoBusiness Fund.
More investments
| Date | Total FMO financing |
|---|---|
| 6/22/2024 | USD 20.00 MLN |
- Website customer/investment
- http://www.fedecredito.com.sv
- Region
- Latin America & The Caribbean
- Country
- El Salvador
- Sector
- Financial Institutions
- Effective date
- 12/8/2016
- End date
- 10/15/2024
- Total FMO financing
- USD 24.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C