Company name
AVLA Seguros de Crédito y Garantía S.A.
Project number
12872-01
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
Chile
Sector
Financial Institutions
Status
In implementation
Disclosed date
11/13/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/26/2021
Approval date
02/26/2021
Signed date
07/29/2021
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 40,000,000
Currency
USD
Project scope and objective
The proposed project includes a financing mechanism that will consist on a senior, secured, revolving warehouse facility of up to US$40 million, whose proceeds will be used to purchase and accumulate eligible endorsable mortgage loans or other similar instruments to small and mid-sized companies in Chile for a future asset backed securitization. The transaction will support and improve SMEs access to financing in Chile, narrowing the current financing gap that is increasing due to the COVID-19 crisis, and will help further expand debt capital markets in the country through new issuances of asset backed securities. The proceeds from the line will allow AVLA Group to expand its SMEs’ credit insurance business segment. The warehousing facility may support several accumulation periods, for a maximum of six years.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
lbryce@avla.com
PHONE NUMBER
+56-2-2706-8900
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 OfficesFor 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
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