IDB Invest, private-investment arm of US-based Inter-American Development Bank (IADB) Group, announced a local-currency loan totalling $50 million USD to Banco Compartamos, one of the seven business units of the Mexico-based Gentera. Compartamos provides loans, insurance and savings services to individuals as well as SME’s in Mexico. The loan is intended to help increase financing for these enterprises, with a focus on investing in companies led by women. As of December 2021, Compartamos held MXN 32 billion (USD 1.6 billion) in assets, with the majority of the bank’s clients are women.
Source: Micro Capital