Company name

Banco Bolivariano C.A.

Project number

12457-02

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

Ecuador

Sector

Financial Institutions

Status

Proposed

Disclosed date

09/10/2021

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

Projected board date
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10/21/2021

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Mera Pacheco, Gabriela

Investment type

Financing requested

N/A

Syndicated amount

USD $ 20,000,000

Financing amount

USD $ 10,000,000

Currency

USD

Project scope and objective

The project consists of supporting Banco Bolivariano in strengthening its capital with a subordinated loan for a total amount of up to US$30 million, composed as follows: (i) Subordinated A Loan for an amount of up to US$10 million to be funded by IDB Invest; and (ii) Subordinated B Loan for an amount of up to US$20 million to be funded by B Lender(s). The loan term will be up to eight years with a grace period of five years. The funds from the loan will be used to finance small and medium-sized companies (“SMEs”) and Banco Bolivariano's green portfolio.

Additionally, IDB Invest will provide an advisory service to strengthen Banco Bolivariano’s sustainability strategy for the SME portfolio with a focus in the social segment, and it will analyze the feasibility of developing a digitization strategy for SMEs.

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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.

ESRS BANCO BOLIVARIANO (ENG)

143.4 Kb

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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

CONTACT NAME

Connie Man-Hing

POSITION

Treasury and International Relations Manager

PHONE NUMBER

+593 4 2560705

EMAIL

cmanhing@bolivariano.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