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
tooltip

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
tooltip

05/24/2022

Approval date

05/24/2022

Signed date

06/03/2022

Sponsoring entity

N/A

Team leader

Guevara Sanchez, Marvin

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.

For inquiries, comments and information requests about the project

Request information

Learn 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.

BANCO AGRICOLA SUBORDINATED DEBT - 13958-01 -ESRS

143.4 Kb

For inquiries, comments and information requests about the project

Request information

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

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Mauricio Ernesto Rivas Conde

POSITION

Manager of Correspondent Banks

PHONE NUMBER

+503 2267-5383

EMAIL

maurriva@bancoagricola.com.sv

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices

For inquiries, comments and information requests about the project

Request information

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