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Company name

Banco Solidario S.A. (BancoSol)

Project number

14388-01

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

Bolivia

Sector

N/A

Status

In implementation

Disclosed date

10/17/2023

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

Projected board date
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03/25/2024

Approval date

03/26/2024

Signed date

05/14/2024

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 15,200,000

Financing amount

USD $ 15,000,000

Currency

USD

Project scope and objective

The proposed transaction consists in a guarantee denominated in bolivianos (BOB) for up to US$15 million to support an issuance in the Bolivian market of Social Gender Bonds in the amount of US$30 million by Banco Solidario, S.A. (“Banco Sol” or the “Bank”), to be financed by IDB Invest (the “Project”). 

IDB Invest will issue a Partial Credit Guarantee (PCG) for up to 50% of the bond issue in order to improve the rating profile of Banco Sol’s issuance.

The resources of the bond will be used to finance micro and small-sized enterprises (“MSEs”) as well as MSEs owned and/or led by women so as to increase their productive investments and economic development.

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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. 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 SOL – SOCIAL GENDER BOND (PCG) - 14388-01 BO-ENVIRONMENTAL AND SOCIAL REVIEW ESRS

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

eferraro@bancosol.com.bo

PHONE NUMBER

+7678-0950

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .