Company name
Banco de América Central, S.A. (“BAC GT”)
Project number
12853-02
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

Guatemala
Sector

Financial Institutions
Status
In implementation
Disclosed date
06/03/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/03/2020
Approval date
07/30/2020
Signed date
08/12/2020
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 100,000,000
Currency
USD
Project scope and objective
The proposed transaction consists of a senior unsecured loan to Banco de América Central, S.A. (“BAC GT” or the “Bank”) denominated in US dollars (“US$”) for up to US$100 million (the “project”). Project financing will be structured as follows: (i) US$75 million from IDB Invest; (ii) US$25 million mobilized through potential cofinancing, financed by IDB Invest in its capacity as administrator of the Chinese Cofinancing Fund for Latin America and the Caribbean (the “Fund”). The objective of the project is to support BAC GT in its efforts to increase financing to small and medium-sized enterprises (“SMEs”) and contribute to the development of value chains by providing financing to anchor companies (mid-market) within Guatemala. At the same time, IDB Invest will provide advisory services focused on the aforementioned supply chains with a focus on enhancing the SMEs’ value added. As part of its institutional response and in order to mitigate the economic crisis caused by the COVID-19 pandemic, IDB Invest is prioritizing the SME sector in the region by taking appropriate steps to address the difficulties they face accessing financing through financial institutions.
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
gmorales@baccredomatic.gt
PHONE NUMBER
+2361-0909 Ext. 2700
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 OfficesFor 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.
ENVIRONMENTAL AND SOCIAL REVIEW
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