Company name

Banco PAN, S.A.

Project number

13429-01

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
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FI-3

Country

Brazil

Sector

Financial Institutions

Status

Proposed

Disclosed date

10/25/2021

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

Projected board date
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11/30/2021

Approval date

11/30/2021

Signed date

N/A

Sponsoring entity

N/A

Team leader

Groszmann Faria, Marcia

Investment type

Syndicated amount

N/A

Financing amount

USD $ 50,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of an unsecured A/B Loan and Parallel Loans of approximately US$150 million to Banco PAN, to be structured as follows: (i) US$17.5 million held by IDB Invest; (ii) US$32.5 million held by IDB; (iii) US$25 million held by parallel lenders; and (iv) approximately US$75 million mobilized through potential B loan participants. The purpose of the Project is to support the Bank in its efforts to increase financing provided to its microfinance portfolio: (i) low-income retirees portfolio; (ii) acquiring business which refers to the advanced payment of future receivables to microentrepreneurs; and (iii) low-income individuals for financing of new motorcycles. IDB Invest will provide technical advisory services to Banco PAN.

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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 PAN -13429-01

143.4 Kb

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Marcia Lago Rissi de Campos

POSITION

Corporate Finance

PHONE NUMBER

55 11 3264-7356/ 1197329-0375

EMAIL

Marcia.lcampos@grupopan.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