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Company name

Caja Municipal de Ahorro y Crédito Huancayo S.A.

Project number

12357-01

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

Peru

Sector

Financial Institutions

Status

In implementation

Disclosed date

10/05/2018

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

Projected board date
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07/23/2019

Approval date

07/22/2019

Signed date

11/09/2020

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 22,800,000

Currency

PEN

Project scope and objective

The project consists of a subordinate (tier 2) loan for up to the PEN equivalent of US$22.8 million granted to the Caja Municipal de Ahorro y Crédito de Huancayo S.A. (“Caja Huancayo”), convertible to common shares with voting rights for up to 8.99% of equity. The objective is to support the growth and consolidation of Caja Huancayo in the Peruvian microfinance industry. This would be the first IDB Invest transaction with Caja Huancayo, which could become the first IDB Invest equity investment in a municipal entity.

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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.

ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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