Company name
LGF Occidente, S.A. de C.V. SOFOM ENR
Project number
14339-01
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
FI-3
Country
Mexico
Sector
Digital Economy
Status
Hold
Disclosed date
03/10/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/29/2024
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 30,000,000
Currency
MXN
Project scope and objective
IDB Invest is considering structured financing for LGF Occidente, S.A. de C.V. SOFOM ENR (“Creditas Mexico”), an online platform that offers loans secured by homes and automobile as collaterals in Mexico. The proceeds from the proposed transaction will be used to finance the loan portfolio originated by Creditas Mexico for micro- and small business owners. Creditas Mexico offers loans at affordable interest rates using technology and data analytics to boost operation and distribution efficiency, and considering the collateral value.
The proposed transaction is mainly aimed at increasing access to financing for micro- and small business owners.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
miguel.rodrigues@creditas.com
PHONE NUMBER
+55 (11) 95082 0557
POST OFFICE ADDRESS
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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
CREDITAS MEXICO - STRUCTURED FINANCING - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
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