It looks a lot like this Bianchi / Nealeco


Apparently this style folding frame was quite popular in Europe during the 1970s - many small boutique bike companies imported them [from Yugoslavia?], slapped their own identifying marks (decals) on them and sold them to their urban, and urbane, clientele. At least that is what I have read about them.
CLR Effect
Here's a 12 inch wheel version in not quite Bianchi green
The chain stays and rear dropouts are a little different

It also looks like this Chiorda Safari

Slender Fungus Cycling Association
The brand is Chiorda and it is a old italian bike. They made a high end road bike ridden by the famous Felice Gimondi. The company was later bought out by Bianchi who also bought out the Famous Legnano.
It looks like there were various wheel sizes with various brand stickers on this bike over the years.