Mi Banco is among the fastest growing cooperative banks in El Salvador, with more than 10,000 borrowers and 25,000 depositors, which it serves through a network of 10 branches and digital channels. Customers, whose monthly income is often below USD 500, can take out a loan for education or healthcare purposes, to expand or improve a house, or to start a small business to improve their livelihoods. Mi Banco also offers its customers the opportunity to open a savings account, take out life insurance, and pay taxes, duties, and basic services.
In addition, Mi Banco lends to municipalities for the execution of high social impact projects, such as roadwork construction that connects remote or less accessible communities and creating or improving sanitation infrastructure.
Senior Investment Manager Michael Topf: “Mi Banco’s mission to improve the livelihoods of Salvadorans is a clear fit with our investment strategy. Our loan enables Mi Banco to give a growing number of people access to key basic needs financing, and the opportunity to start or expand a small business.”
Learn more about our investment activities in financial inclusion.