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Company name

Banco de las Microfinanzas Bancamía S.A. (“Bancamía”)

Project number

11619-03

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

Colombia

Sector

Financial Institutions

Status

Completed

Disclosed date

02/08/2019

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

Projected board date
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08/28/2019

Approval date

08/28/2019

Signed date

10/18/2019

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 34,750,700

Currency

COP

Project scope and objective

The project objective is to provide financing to Bancamía to fund working capital and investment operations to microenterprises in various Colombian economic sectors providing support to the most vulnerable sectors. To achieve this objective, the proposed loan will be for up to US$35 million, equal to approximately COP110.114 billion (using an exchange rate of US$1= COP3,146.14 as of January 24, 2019. The peso amount will be determined prior to disbursement) with a term of up to four years. The loan will allow Bancamía to diversify its financing sources and continue the growth of its portfolio in a sector that is strategic for IDB Invest.

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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. 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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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .