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
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
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.
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
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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 SUMMARY
31.6 Kb