IDB Lends to Boost Chile’s Microfinance Reach

The IDB’s Multilateral Investment Fund has approved a $175m loan to Cooperativa de Servicios Financieros a la Microempresa (CSFM) and agreed to cooperate in the design of a financial services coverage system for suburban and rural entrepreneurs in Chile. The 3-year loan, renewable once for 3 more years, pays 300bp over 6-month Libor.