Opportunity International Colombia Finance Co. Start Up

closed

The overall objective of the project is to increase access to financial services for poor and microenterprise in urban and rural areas of Colombia's population. The specific objective is the creation of a new IMF monitored in Colombia that serves about 90,000 people with services of credit, savings, remittances and insurance within five years.The project will cost a total of US $ 9.5 MM, of which up to US $ 500,000 will be provided by MIF, divided between an investment in the capital of the new entity up to US $ 900,000 (10% of the initial capital) and US300. 000 technical cooperation. OI and its affiliates and partner organizations provide a minimum 90% stake in the new entity regulated, equivalent to US $ 9,000,000 initials, and a counterpart of US $ 300,000 technical cooperation. The expected time for project implementation is 3 years.