WWB Cali: Banco de Bogotá Loan Guarantee

In 2002, USAID guaranteed a $3 million dollar loan from Banco de Bogotá to help Women's World Banking (WWB) finance its continued portfolio growth. This operation marked WWB's second USAID loan guarantee in two years. Prior to these guarantees, WWB Cali had been financing its operations via two main sources: long-term loans from international financial institutions, and short-term loans from domestic banks. Since that time, WWB Cali has further diversified its funding base by issuing bonds in the Colombian capital markets. The purpose of this study is to explore what role, if any, the loan guarantee played in WWB Cali's evolving funding base.