The Project consists in providing an Unsecured Senior Loan of up to US$12 million to Banco del País S.A. ("Banpaís" or "the Bank") to increase the small and medium-sized enterprises (“SME”) portfolio. The tenor is up to five years, which represents a financial additionality to Banpaís as it mostly operates with short-term funding. Of the US$12 million, the Inter-American Investment Corporation (“IIC”) will contribute US$8 million from its own account, and will bring potentially in an additional US$4 million through the China Co-Financing Fund.
In addition, it is expected that this Project will be complemented by an Advisory Services (“AS”) component with the GREENPYME program, which objective is to provide: (i) training workshops for Banpaís ’clients on energy efficiency, renewable energy and water management; and (ii) an online training course for Banpaís employees to strengthen the internal capacity of analysis of green projects, and to make them aware of the different existing technologies and the risks associated with this type of projects. In addition, the AS will also support Banpaí´s clients by carrying out energy audits and water management reports.