Company name
Exponencial Confirming S.A.S
Project number
14718-01
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
Colombia
Sector
Digital Economy
Status
Proposed
Disclosed date
12/01/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/03/2024
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 200,000
Financing amount
USD $ 50,294,800
Currency
COP, USD
Project scope and objective
The proposed financing consists of a facility in which IDB Invest offers the Borrower Exponencial Confirming, as an obligor through a Trust, an uncommitted revolving credit facility. Through this facility, IDB Invest will make a series of disbursements for a capital amount of up to COP$200 thousand million (approximately USD50 million). The objective is to facilitate access to liquidity at competitive prices for suppliers of larger anchor companies (eligible debtors). The final beneficiaries will primarily be micro, small, and medium companies ("MSMEs") that sell their products and services to eligible debtors, who are the ultimate payers of the invoices.
Exponencial Confirming as Trustor will use the credits to carry out confirming operations which consist of the purchase of invoices issued by eligible suppliers, mostly MSME companies to facilitate access to immediate liquidity before maturity. Once these invoices have been acquired, the Trust will receive payment of the invoices from the eligible debtor that will be previously approved in the IDB Invest risk area.
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Contact information
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Request informationAlternatively, you may also use the following contact information :
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 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.
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.
FIDEICOMISO EXPONENCIAL CONFIRMING - SME ALTERNATIVE FINANCE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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