Chile programs / Chile project 513-0192 · 1965 · agriculture
LOAN PROVIDES SEED CAPITAL IN CREATION OF PRIVATE COOPERATIVE DEVELOPMENT BANK (IFICOOP) WHICH WILL ADVANCE CREDIT AND FINANCE TECHNICAL/MANAGERIAL SERVICES FOR CHILEAN COOPERATIVES. IFICOOP SERVES CONSUMER, PRODUCTION (INCLUDING PROCESSINGAND MARKETING), AND SERVICE (E.G., ELECTRIC AND HOUSING) COOPERATIVES. MEMBERS OF THESE COOPS ARE ULTIMATE BENEFICIARIES OF PROJECT. IFICOOP IS ADMINISTERED BY BOARD OF DIRECTORS COMPOSED OF 13 MEMBERS ELECTED BY MEMBER COOPERATIVES. 5-MAN EXECUTIVE COMMITTEE FUNCTIONS AS PRINCIPAL MANAGEMENT BODY. IFICOOP EXTENDS LOANS WITH MAXIMUM TERM OF 10 YEARS TO COOPERATIVES WITH ADEQUATE MANAGEMENT AND FINANCIAL CAPACITY. IT PROMOTES CAPITALIZATION AND SAVING BY COOPERATIVES AND FINANCES PLANS FOR TECHNICAL AND MANAGEMENT ASSISTANCE AND TRAINIG. IT CAN GUARANTEE LOANS, CHANNEL RESOURCES OR SERVICES TO COOPS. LOANS ARE MADE FOR PHYSICAL FACILITIES, WORKING CAPITAL, OR COMMODITIES. COOPS DESIRING LOAN CAN APPLY THROUGH MAIN OFFICE OR ANY OF 5 REGIONAL OFFICES. IFICOOP MAKES INSTITUTIONAL, LEGAL, FINANCIAL ANALYSIS OF COOP. MANAGEMENT APPROVES SHORT-TERM; LOAN COMMITTEE MEDIUM OF LONG-TERM UP TO CERTAIN LIMIT; EXECUTIVE COMMITTEE APPROVES LONG-TERM EXCEEDING
Source: DEC abstract, PD-AAB-759-B1 (1965). The source's own text.
Operated in: Chile.
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Operated in Chile, 1965 1 source
Scope: country: Chile. The award code belongs to this country's mission. High confidence.
How sure we are: 0.9.
| Name | Years | Basis | Evidence |
|---|---|---|---|
| U.S. Agency for International Development (USAID) | 1965 | Stated in a document | 1 source |
| Name | Years | Basis | Evidence |
|---|---|---|---|
| Chile | 1965 | Stated in a document | 1 source |
Sector profile (computed): Agriculture: agribusiness, processing, marketing, agricultural finance 57%; Financial sector (banks, credit, microfinance, markets) 21%; Economic opportunity (microenterprise, jobs, skills, poverty reduction) 7%
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Program key prj:5130192