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Company name

Banco Internacional Chile

Project number

11847-02

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Chile

Sector

Financial Institutions

Status

In implementation

Disclosed date

05/19/2023

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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08/03/2023

Approval date

08/04/2023

Signed date

10/06/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 355,000,000

Financing amount

USD $ 40,000,000

Currency

USD

Project scope and objective

The proposed transaction consists on an A/B senior loan of up to US$150 million (the “Loan”) funded as follows: (i) an A loan of up of U$$30 million to be funded by IDB Invest; and (ii) a B loan of up to US$120 million to be funded by institutional investors The Loan will be amortizable in up to five years. The Project involves funding Banco Internacional to increase its operation (balance) by increasing available lending to Small- and Mid-Sized Enterprises (“SMEs”) clients, as well as adding new SMEs to its portfolio. Additionally, advisory services are being designed to help Banco Internacional develop a sustainability strategy.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

AB FINANCING AGREEMENT WITH BANCO INTERNACIONAL 11847-02 - CHILE- ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

ierrazuriz@internacional.cl

PHONE NUMBER

+56 2 29897976

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .