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Company name

Cordada SpA

Project number

13986-01

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

Chile

Sector

Financial Institutions

Status

Proposed

Disclosed date

05/04/2022

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

Projected board date
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07/19/2022

Approval date

N/A

Signed date

07/22/2022

Sponsoring entity

N/A

Team leader

Penagaricano, Matilde

Investment type

Syndicated amount

N/A

Financing amount

USD $ 13,000,000

Currency

USD

Project scope and objective

The proposed operation contemplates a Senior Secured Loan of up to US$13 million (the "Loan") to be financed by BID Invest. The term of the Loan is two years, renewable two times more for periods of up to two years as well, at the discretion of BID Invest. Loan funds will be used to finance Micro, Small and Medium-Sized Enterprises ("MSMEs") through factoring operations. Additionally, advisory services are being designed to support the transaction in terms of corporate governance.

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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.

CORDADA MSME PRODUCTIVE DEVELOPMENT PARTNERSHIP 13986-01 ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

133.1 Kb

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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

CONTACT NAME

Andrés Ducassou

POSITION

CFO

PHONE NUMBER

+56 9 82283027

EMAIL

aducassou@cordada.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