Company name
Banco Industrial Guatemala
Project number
11864-02
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
FI-3
Country
Guatemala
Sector
Financial Institutions
Status
In implementation
Disclosed date
06/12/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/31/2018
Approval date
09/25/2018
Signed date
11/26/2018
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 120,000,000
Currency
USD
Project scope and objective
The proposed operation consists of a note subscription under Banco Industrial’s financial future flow securitization program. Banco Industrial will issue around US$300 million under its existing Diversified Payments Rights Program (the “Program”). And the IDB Group will purchase US$100 million in notes with a tenor of up to 11 years. The use of funds will be to expand Banco Industrial’s residential mortgage portfolio for low and middle-income segments, as well as to finance micro, small and medium enterprises ("MSMEs") in the productive sector of Guatemala.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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(292) 623-3952.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
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