Company name
Banco para la Comercialización y la Producción S.A.
Project number
PR4024A-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
Completed
Disclosed date
06/09/2014
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/31/2014
Approval date
07/10/2015
Signed date
01/13/2016
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 2,000,000
Currency
USD
Project scope and objective
The Inter-American Investment Corporation (IIC) approved a loan of up to US$2 million to Banco para la Comercialización y la Producción S.A. (Bancop) to expand its lending operations with Paraguayan small and medium-sized enterprises (SMEs) in the agricultural, livestock, commercial, industrial, and services sectors, thereby boosting agricultural and livestock production in Paraguay.
The project consists of a loan to Bancop. The purpose of this IIC operation is to help Bancop increase its loan operations for medium-term projects with Paraguay’s small and medium-sized enterprise sector, including rural producers, through loans to producers’ cooperatives and/or small or medium-sized producers, thereby promoting crop and livestock production in Paraguay.
On January 31, 2012, the Central Bank of Paraguay (BCP) issued Bancop a license to operate, and on July 16, 2012, the bank opened its doors to the public. Paraguay’s first cooperative-owned bank, Bancop currently has 27 producers’ cooperatives as shareholders. Its purpose is to provide long-term loans to cooperatives, their members, and any other customer interested in working with it, thus boosting their productive capacity.
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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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