Last June 16, a financing agreement was signed between FEDECRÉDITO and International Finance Corporation (IFC), an institution of the World Bank Group for the private sector. Such institution granted FEDECRÉDITO US$30 million in innovative financing, backed by remittances received from Salvadorians working abroad. The operation will allow for increasing the credit offer to micro-businessmen and women and persons with low income in the country.

This is the first financial operation in the world backed by remittances carried out by a financial institution focused on low-income clients and micro-companies. It is also the first financing of IFC with a financial cooperative in Latin America.

With IFC’s financing, FEDECRÉDITO will increase its loan portfolio up to 25% and will expand the reach of the Cajas de Crédito and the Bancos de los Trabajadores towards areas and clients not adequately served by other banks. Besides, it will be able to use the financing platform backed by remittances that it processes to obtain in the future, additional financing with attractive prices and terms from other investors. This will allow for maximizing the impact in the country’s development of the considerable flows of remittances from abroad.


Signing this agreement makes FEDÉCREDITO very proud; this is our entry into the international capitals market, hand in hand with an important funder such as International Finance Corporation, which forms part of the World Bank Group. This allows us a new and permanent financing scheme.