Mexico Will Get $5 Million From The Inter American Development Bank.

The IGNIA social investment fund is a business venture fund that serves the poorest people. The fund will receive a loan of $5 million from the multinational investment fund of the Inter American Development Bank (MIF) and a grant of $205000 in technical cooperation.

IGNIA will invest in 8-12 Latin American companies to help them start and develop. The core business of these companies is to provide business solutions to meet the needs of the social and economic Pyramid foundation.

MIF is working with the initiative of the Inter American Development Bank (OM) to promote and utilize resources to expand credit for low-income groups in Latin America and the Caribbean.

The IGNIA fund is headquartered in Mexico. It is the first comprehensive operation fund. MIF is a securities investment institution funded by OM. Earlier, it received a loan of up to US $25 million to expand IGNIA's investment capital.

The IGNIA fund is trying to adjust the lives of people at the bottom of the economic Pyramid and improve their associations.

By supporting IGNIA, MIF not only helps create new venture funds, improves the lives of people at the bottom of Pyramid, but also creates new areas of venture capital industry, trying to reduce poverty, combining micro financial lessons with venture capital financial instruments.

MIF is an autonomous fund under the jurisdiction of the Inter American Development Bank.