Company name
Banco Continental SAECA (“Banco Continental”)
Project number
PR4035A-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
Paraguay
Sector
Financial Institutions
Status
Completed
Disclosed date
01/30/2014
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/11/2014
Approval date
05/13/2014
Signed date
08/01/2014
Sponsoring entity
Not applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
The project consists of a loan to Banco Continental. The purpose of this project is to provide financing to small and medium-sized enterprises (SMEs) in Paraguay by granting medium- and long-term loans for their modernization and/or expansion, according to eligibility criteria to be set by the IIC.
Founded in 1980, Banco Continental is the second leading full-service bank in Paraguay’s financial system in terms of total assets. Focused primarily on SMEs and corporate lending, its traditional target market has been companies in the agricultural sector. Banco Continental serves more than 100,000 clients through its 53 branch offices, 125 automatic teller machines, and website for online transactions.
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Contact information
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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
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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.
ENVIRONMENTAL AND SOCIAL REVIEW
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