Microfinance International Corporation (MFIC or the company) is a financial institution that, through its network of microfinance institutions (MFIs) in Latin America, offers affordable and professional financial services to U.S. immigrants and their families overseas who typically do not have access to finance.
The project involves an IFC equity investment of up to $2.0 million in MFIC for the purpose of supporting the expansion of the company’s low-cost remittance service; and its on lending to local MFIs in Latin America, which will then provide low income housing finance to the families of immigrants in the U.S, backed by the remittances.