FEDECREDITO SC DE RL DE CV
Who is our client
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.
FMOs loan will be on-lent by Fedecredito to its members.
Why we fund this project
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.
- Website client
- Latin America & The Caribbean
- El Salvador
- Financial Institutions
- Signing date
- Total FMO financing
- USD 24.00 MLN
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)