Share the page
COSMART: Supporting Bolivian microentrepreneurs
Project
-
Signature date
-
-
Location
-
Bolivia
-
Financing tool
-
Financing amount (Euro)
-
4847779
-
Financing details
-
USD 5m loan
-
Customer
-
Cooperativa San Martin de Porres
-
Type of customer
-
Company
-
Country of headquarters
-
Bolivia
-
Project number
-
PBO1009
-
Environmental and social ranking
-
IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has partnered with COSMART, a Bolivian cooperative specialized in credit and savings services.
Client presentation
The second largest cooperative in Bolivia, Cooperativa de Ahorro y Crédito San Martin de Porres Ltda. (COSMART) offers a wide range of credit and savings services to its 13,900 active clients. It deploys its services via a network of 19 branches located in 5 different regions. It has 300 employees, including 72 loan officers. At the end of 2021, the cooperative had USD 117m of outstanding loans.
Project description
The project involves the allocation of a USD 5m senior debt to COSMART to support the development of its loan portfolio. It is the first financing operation with COSMART and the first operation for a Bolivian cooperative.
Project impact
The main expected impacts of the project are as follows:
- Access to a microcredit for 399 microentrepreneurs (45% of the MFI’s clients are women).
- 12 direct jobs and some 223 indirect jobs supported.
The project will contribute to SDGs 1 (“No poverty”), 8 (“Decent work and economic growth”) and 10 (“Reduced inequalities”).