Microfinance Focus, November 2, 2011: International Finance Corporation (IFC) may make an equity investment of $1.8 million in a Mexican microfinance institution Financiamiento Progresemos along with a $2.5 million senior loan. Progresemos is an existing client of IFC.

Progresemos is headquartered in Mexico City and has a presence in 27 Mexican states and 436 municipalities, focussing primarily on Mexico’s rural and least developed regions. Its portfolio is comprised of micro loans to solidarity groups averaging approximately $475 per individual loan and payroll loans averaging approximately $877 per loan.

In 2008, IFC extended a straight line of credit of 40 million Mexican peso to Progresemos to support the Company’s loan portfolio growth.