Company name
SURA
Project number
13760-01
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
Colombia
Sector
Financial Institutions
Status
Proposed
Disclosed date
10/21/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/16/2023
Approval date
05/16/2023
Signed date
06/07/2023
Sponsoring entity
N/A
Team leader
Parodi Serpa, Alberto Enrique
Investment type
Syndicated amount
N/A
Financing amount
USD $ 25,000,000
Currency
COP
Project scope and objective
The transaction consists of an investment of up to US$25 million in COP in FCP SURA Corporate Private Debt - Corporate Private Debt Compartment (the "SURA Fund"), which consists of a private credit fund that will provide financing to Small and Medium-sized Enterprises ("SMEs") and Middle Market Enterprises ("MMEs") classified as Entrepreneurial and Large Companies in Colombia.
Through this transaction, IDB Invest will support the nascent private debt fund segment in Colombia, a new asset class promoted in an effort to expand financing options complementary to traditional banking and thereby support economic reactivation.
IDB Invest's investment will assist the SURA Fund in achieving its target size. It will also serve as a reference to attract additional investors.
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Contact information
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Client Contact
CONTACT NAME
Sr. Juan Carlos Botero Wolff
POSITION
Director de Deuda Privada
PHONE NUMBER
(+57) 310 348-6565
juan.botero@sura-im.com
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.
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.
SURA CORPORATE PRIVATE DEBT FUND - 13760-01- ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
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