Expected Development Impact
- Enabling Micro, small and medium enterprises growth (MSME): FinDev Canada’s loan will contribute towards supporting Cooprogreso’s financial services for low-income customers, especially programs that target segments of the population with limited or no access to finance. Their financial offering includes loans to small businesses and microentrepreneurs to support SME growth;
- Supporting quality employment: The new capital injection is expected to sustain and create nearly 430 direct local jobs, as the growth in Cooprogreso’s loan portfolio will require additional employees to reinforce its operational capabilities. Cooprogreso’s jobs are considered high-quality in the region, offering benefits to permanent and temporary employees such as onsite healthcare and medical services for workers and their families, and training and advancement opportunities, which go beyond what is required by national law.