Company name

Banco Aliado, S.A.

Project number

11880-02

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

Panama

Sector

Financial Institutions

Status

In implementation

Disclosed date

08/24/2021

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

Projected board date
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10/06/2021

Approval date

10/06/2021

Signed date

12/10/2021

Sponsoring entity

N/A

Team leader

Balevich Macarenko, Anna

Investment type

Syndicated amount

N/A

Financing amount

USD $ 50,000,000

Currency

USD

Project scope and objective

The proposed financing involves a subordinate unsecured loan of up to US$50 million to Banco Aliado, S.A. (“Banco Aliado” or the “Bank”). The loan aims to support Banco Aliado’s capital position and expanding the access of Panamanian small and medium-sized enterprises (SMEs) and women-led SMEs to financing products.

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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.

BANCO ALIADO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

153.6 Kb

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Raymond Duarte Sandoval

POSITION

Treasury Vice President, Correspondent Banking and Financial Planning

PHONE NUMBER

+507 302-1555

EMAIL

raymond.duarte@bancoaliado.com

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