Company name
Banco de la Ciudad de Buenos Aires
Project number
12333-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Argentina
Sector
Financial Institutions
Status
In implementation
Disclosed date
03/27/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/25/2018
Approval date
07/27/2018
Signed date
12/04/2018
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The proposed project includes a financing mechanism for up to US$50 million (“Sustainable Financing Mechanism”) for Banco de la Ciudad de Buenos Aires (“Banco Ciudad”) that will allow that institution to finance subprojects with important environmental benefits in Argentina, primarily targeting the renewable energy and energy efficiency sectors, although it will also seek to support other investments intended to mitigate the effects of climate change (“Sustainable Projects”). The Sustainable Financing Mechanism will provide Ciudad with an unsecured senior loan consisting of: (i) Tranche I for up to US$25 million with a term of up to seven years; and (ii) Tranche II for up to US$25 million with a term of up to five years. Both Tranches will be directed to financing other sustainable projects that require longer amortization terms.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
saranda@bancociudad.com.ar
PHONE NUMBER
+54 (11) 4329-8835 * 8835
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
47.6 Kb