CAME receives a loan from the IDB for US15 million

IDB Invest, which is the investment arm of the Inter-American Development Bank (IDB), announced the approval of a financing for 15 million dollars, equivalent to about 300 million pesos, for the popular financial society (sofipo) CAME.

According to IDB Invest, the financing will have a four-year term and is intended to support sofipo’s growth strategy, both in its productive microfinance portfolio, as well as that destined for small and medium-sized companies.

“CAME has a holistic financial inclusion model with diversified financial services that include credit, savings and insurance. By increasing these portfolios, the aim is to promote financial inclusion in Mexico through a greater depth of access for the microcredit segment, ”reported IDB Invest.

CAME is currently the third largest company in the sector, measured by number of assets, made up of 38 entities in operation. According to statistics from the authority, it serves more than 627,000 clients in 229 branches and has assets of 3,121 million pesos.

“This financing is one more step within the IDB Group’s Vision 2025 – Reinvest in the Americas, our roadmap to achieve economic recovery in the region, specifically in its axis to improve productivity and financing of MSMEs, and close the gaps in terms of financial inclusion, ”said Ernesto Stein, representative of the IDB Group in Mexico.

You will receive advice

As reported by IDB Invest, this agency will provide advisory services to CAME in order to guide the preparation of the institutions for the eventual issuance of a social bond with a gender perspective.

This financing comes at a time when bank loans and loans from other organizations for sofipos has had a significant drop. According to data from the sector as of last May, this item registered a balance of 3,509 million pesos, that is, a decrease of 17%, compared to the same period in 2020.

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