January 18, 2022
IDB Invest has granted financing to Banco Mundo Mujer S.A. (BMM) denominated in Colombian pesos, equivalent to up to $30 million. The three-year transaction will increase access to credit for women-led microenterprises in Colombia.
The financing will support the growth of BMM’s portfolio in the microenterprise segment to allocate resources to working capital or the purchase of assets that allow the operation and progress of microenterprises.
IDB Invest will provide BMM with advisory services with the aim of reinforcing the bank’s practices in promoting gender equality internally. To this end, IDB Invest will help the bank to identify gender gaps through the WEP (Women Empowerment Principles) tool and will provide recommendations on corporate policies and practices that contribute to closing such gaps. This will be accompanied by an awareness workshop on the value of diversity, aimed at BMM’s senior management.
This deal is expected to contribute to four United Nations Sustainable Development Goals (SDGs): End Poverty (SDG 1), Gender Equality (SDG 5), Decent Work and Economic Growth (SDG 8), Industry, innovation and infrastructure (SDG 9).