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Company name
Banco Aliado, S.A.
Project number
11880-02
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
Panama
Sector
Financial Institutions
Status
Proposed
Disclosed date
08/24/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/06/2021
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Team leader
Eskildsen Alfaro, Jan Petter
Investment type
Financing requested
USD $ 50,000,000
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The proposed financing involves a subordinate unsecured loan of up to US$50 million to Banco Aliado, S.A. (“Banco Aliado” or the “Bank”). The loan aims to support Banco Aliado’s capital position and expanding the access of Panamanian small and medium-sized enterprises (SMEs) and women-led SMEs to financing products.
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Contact information
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Client Contact
CONTACT NAME
Raymond Duarte Sandoval
POSITION
Treasury Vice President, Correspondent Banking and Financial Planning
PHONE NUMBER
+507 302-1555
raymond.duarte@bancoaliado.com
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 OfficesAs a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.
BANCO ALIADO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
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