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Company name

Banco Agrícola, S.A.

Project number

11777-04

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

El Salvador

Sector

Financial Institutions

Status

Completed

Disclosed date

11/09/2017

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

Projected board date
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12/12/2017

Approval date

12/12/2017

Signed date

04/25/2018

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 12,000,000

Financing amount

USD $ 18,000,000

Currency

USD

Project scope and objective

The Project consists of a total financing package of up to US$30 million to support the small and medium enterprises (“SMEs”) strategy of Banco Agrícola, S.A. (“Banco Agrícola”). The Inter American Development Bank Group (“IDB Group”) will participate through an unsecured A Loan of up to US$18 million with a four year term and includes the participation of B Lenders for up to US$12 million.

The purpose of the Loan is to provide medium-term financing to support the growth of Banco Agrícola’s SMEs portfolio. In the last year, Banco Agrícola has worked to strengthen its portfolio of services and support model to this segment with the purpose of strengthening its positioning as a strategic partner of SMEs. Banco Agrícola currently serves more than 35,000 SMEs with a particular focus on commerce and services sectors.

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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.

ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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