Company name

Sociedad Financiera Equipate, S.A. de C.V., SOFOM ENR

Project number

ME4116A-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

Mexico

Sector

Financial Institutions

Status

Completed

Disclosed date

06/21/2016

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

Projected board date
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07/25/2016

Approval date

12/31/2016

Signed date

12/13/2017

Sponsoring entity

N/A

Team leader

Baltazar Vazquez, Lucia Adriana

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 1,454,090

Currency

MXN

Project scope and objective

The objective of this operation is to provide an A Loan of up to MX$30 million (approximately US$1.7 million) to support Equipa-T in scaling up a new financial product to finance home improvements for low-income families; as well as to increase the existing portfolio of group micro loans to women entrepreneurs. Equipa-T is a Mexican non-regulated microfinance institution, created in 2006, and headquartered in Mexico City, with branches across 12 states in Mexico. Its core credit products aim to promote the growth of microenterprises through individual and group lending methods, and recently also through a specialized product financing home improvements, which it aims to scale through partnerships with construction companies focused on the social housing market.

At the end of 2015, Equipa-T had a loan portfolio of MX$300 million (approximately US$17 million) and had more than 40,000 borrowers in Mexico, which it serves through a network of 49 branches. Currently, approximately 57% of Equipa-T’s microfinance portfolio consists of individual microloans and 43% of group lending. Equipa-T expects to provide home improvement loans to approximately 8,000 additional families, and group micro-loans to approximately 25,000 additional women entrepreneurs over the next three years.

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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 SUMMARY

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Contact information

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Client Contact

CONTACT NAME

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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

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