Company name
Crédito Real S.A.B. de C.V., SOFOM, E.R.
Project number
12199-01
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
Mexico
Sector
Financial Institutions
Status
Proposed
Disclosed date
06/12/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
06/30/2018
Approval date
10/10/2018
Signed date
11/26/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
MXN
Project scope and objective
The proposed loan for Crédito Real S.A.B. de C.V., SOFOM E.R. ("Crédito Real") is for up to the Mexican peso (“MEX$”) equivalent of US$50 million, or MEX$1 billion, whichever is less, to support the growth of small and medium-sized enterprises ("SMEs") in Mexico. The Project seeks to promote access to financing for SMEs led by women in Mexico through financial products such as leasing, which provide a comprehensive approach to serving the female market. The term of the IDB Invest Loan is expected to be up to five years, and the Loan will be complemented by IDB Invest technical assistance to support the efforts of Crédito Real to become a role model for leasing operations with a gender focus.
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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 OfficesFor inquiries, comments and information requests about the project
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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
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