Company name
Banco Continental S.A.E.C.A. (“Banco Continental”)
Project number
14162-01
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
FI-2
Country
Paraguay
Sector
Financial Institutions
Status
In implementation
Disclosed date
10/05/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/06/2022
Approval date
12/06/2022
Signed date
12/09/2022
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 80,000,000
Financing amount
USD $ 100,000,000
Currency
USD
Project scope and objective
The proposed operation consists of a senior unsecured loan to Banco Continental for an amount of up to US$100 million, that contemplates: (i) a Committed Tranche I: which consists of an A Loan of up to US$50 million; (ii) an Uncommitted Tranche II: consisting of an A Loan of up to US$50 million; and (iii) the operation contemplates the possibility of mobilizing resources from institutional investors through a B Loan for an amount to be determined in accordance with market conditions.
The operation will have a term of up to five years, with up to two years of grace period.
The funds from the operation will be used to finance the growth of Banco Continental's green portfolio in Paraguay.
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
fernando.baez@bancontinental.com.py
PHONE NUMBER
+595 21 627 4510
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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For 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.
BANCO CONTINENTAL GREEN FINANCING PARTNERSHIP-14162-01-ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
143.4 Kb