The proceeds of the Social Bond will be used to finance access to financing services, with its eligible subcategories: affordable housing and household financing.
Banco W Issuing $40M “Social Bond,” Funded by IDB Invest to Promote Gender Equity in Colombia via Microfinance
The funds are slated to reach 25,000 female-led microenterprises and support the “development of the capital markets and thematic bonds in Colombia.”
A recent report found 86 percent of consumers in Colombia — approximately 1.6 million individuals — who had never had a bank account signed up for one between April and November 2020.
Bancamía and IFC Sign Cooperation Agreement to Develop Financial Products and Services for Venezuelan Migrants in Colombia
The cooperation aims to strengthen the offer of financial products and services to Venezuelan migrants, especially women, with the aim of helping them successfully integrate into the country's social and economic dynamics.
The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.