Enhance Development Impact of Workers' Remittances

cancelled

Development Objective. The main objective of the Project isto enhance the development impact of workers' remittancesto Guatemala from the United States through an innovativestructured transaction to finance the expansion of medium tolong-term credit to (i) small businesses, (ii) mortgage loans,and (iii) the recipients of remittances, mainly mortgage loans to these recipients paid by remittance flows.The MIF's involvement helps to support a growing marketwith profound social repercussions: the impact of workers'remittances in LAC. This is an important catalytic role of the MIF because it enhances the development impact ofremittance flows and will help Bancafé to leverage itsGuatemalan workers' remittance flows from the UnitedStates and expand its medium to long-term loan portfolio inGuatemala.