Company name

Banco Continental S.A.E.C.A. (“Banco Continental”)

Project number

14162-01

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
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FI-2

Country

Paraguay

Sector

Financial Institutions

Status

Proposed

Disclosed date

10/05/2022

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

Projected board date
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12/06/2022

Approval date

11/29/2022

Signed date

12/02/2022

Sponsoring entity

N/A

Team leader

Paredes, Cristina

Investment type

Syndicated amount

N/A

Financing amount

USD $ 100,000,000

Currency

USD

Project scope and objective

The proposed operation consists of a senior unsecured loan to Banco Continental for an amount of up to US$100 million, that contemplates: (i) a Committed Tranche I: which consists of an A Loan of up to US$50 million; (ii) an Uncommitted Tranche II: consisting of an A Loan of up to US$50 million; and (iii) the operation contemplates the possibility of mobilizing resources from institutional investors through a B Loan for an amount to be determined in accordance with market conditions.

The operation will have a term of up to five years, with up to two years of grace period.

The funds from the operation will be used to finance the growth of Banco Continental's green portfolio in Paraguay.

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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 CONTINENTAL GREEN FINANCING PARTNERSHIP-14162-01-ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Fernando Báez

POSITION

Gerente Financiero

PHONE NUMBER

+595 21 627 4510

EMAIL

fernando.baez@bancontinental.com.py

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

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