Company name

BANCO AGROMERCANTIL DE GUATEMALA S.A

Project number

13726-01

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
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FI-2

Country

Guatemala

Sector

Financial Institutions

Status

Proposed

Disclosed date

09/17/2021

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

Projected board date
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10/26/2021

Approval date

10/26/2021

Signed date

N/A

Sponsoring entity

N/A

Team leader

Eskildsen Alfaro, Jan Petter

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 70,000,000

Currency

USD

Project scope and objective

The financing facility involves a USD-denominated unsecured subordinated loan for Banco Agromercantil Guatemala, S.A. (BAM or the Bank), of US$70 million, with a 10-year tenor including five years of grace. This financing transaction will be funded as follows: (i) US$50 million by IDB Invest; and (ii) US$20 million by the IDB. It is aimed at supporting Banco Agromercantil Guatemala, S.A. in its efforts to develop its green projects and the SME sector. It will also include advisory services, focused on expanding and diversifying the business line and designing new green products for sustainable construction and mobility.

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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.

BANCO AGROMERCANTIL 13726-01 ESRS

143.4 Kb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Manuel Chavez Rivera

POSITION

CFO

PHONE NUMBER

502 23622623

EMAIL

Manuel.chavez@bam.com.gt

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices