Company name

Banco de América Central S.A. (BAC Nicaragua)

Project number

NI3893A-01

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Nicaragua

Sector

Financial Institutions

Status

Completed

Disclosed date

04/17/2015

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

Projected board date
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05/19/2015

Approval date

06/16/2015

Signed date

11/04/2015

Sponsoring entity

N/A

Team leader

Elli Gonzalez, Leila Leticia

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 10,000,000

Currency

USD

Project scope and objective

The proceeds of the loan shall be used to provide financing to small and medium-sized enterprises (SME) in Nicaragua in the form of medium- and long-term loans to modernize and expand these companies.

BAC Nicaragua, a bank established in 1952, forms part of the BAC Credomatic group, the main issuer and processer of credit and debit cards in Central America. BAC Nicaragua is a full service bank that allocates 45 percent—a significant portion—of its portfolio to retail banking, and the remaining 55 percent is for corporate banking. In terms of assets and portfolio, BAC Nicaragua is the third largest bank in Nicaragua.

BAC Nicaragua offers a broad portfolio of financial services and products through multiple distribution channels such as its branches, points of service, ATMs, and mobile banking. It currently has a network of 33 branches, 173 ATMs, and 9 points of service located within companies, providing extensive coverage across Nicaragua.

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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. 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.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

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POSITION

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PHONE NUMBER

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EMAIL

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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