Company name
BANCO AGRICOLA, S.A.
Project number
13958-01
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
El Salvador
Sector
Financial Institutions
Status
In implementation
Disclosed date
04/06/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/24/2022
Approval date
05/24/2022
Signed date
06/03/2022
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 100,000
Financing amount
USD $ 70,000,000
Currency
USD
Project scope and objective
The Project consists of a subordinated unsecured loan to be granted to Banco Agrícola S.A. (the “Borrower” or the “Bank”) for up to US$70 million with a repayment term of 10 years including five years of grace. The loan will be used to support the expansion of the small- and medium-sized enterprise (SME), women-led SME and green portfolios of Banco Agrícola. By growing the portfolios, the Project aims at contributing to improve the overall access to financing of such segments in El Salvador. To achieve this, we are seeking to strengthen Banco Agrícola’s capital base and thus supporting the Bank’s portfolio growth strategy, which includes the target segments. In addition, the financial support is expected to be completed with technical assistance to improve the Bank’s abilities and knowledge in serving the women-led SME segment.
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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
maurriva@bancoagricola.com.sv
PHONE NUMBER
+503 2267-5383
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
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For inquiries, comments and information requests about the project
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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.
BANCO AGRICOLA SUBORDINATED DEBT - 13958-01 -ESRS
143.4 Kb