Company name
Banco Promerica de Costa Rica, S.A.
Project number
11752-03
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
Costa Rica
Sector
Financial Institutions
Status
Proposed
Disclosed date
12/28/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/01/2019
Approval date
02/04/2019
Signed date
06/04/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
USD
Project scope and objective
The proposed transaction consists of an unsecured financing to Banco Promerica de Costa Rica S.A. (“Promerica” or the “Bank”) denominated in United States Dollars (“US$”) of up to US$20 million to be funded by IDB Invest (“the “Project”). The purpose of the Project is to grant financing to Promerica to improve access to finance for small and medium sized enterprises (“SME”) and to support the growth of Promerica’s “Green Financing” portfolio. The Project will be complemented by a Technical Assistance that will focus on its “Green Financing” portfolio.
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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
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
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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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