Company name
Sociedad Financiera Equipate, S.A. de C.V., SOFOM ENR
Project number
ME4116A-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
FI-3
Country
Mexico
Sector
Financial Institutions
Status
Completed
Disclosed date
06/21/2016
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/25/2016
Approval date
12/31/2016
Signed date
12/13/2017
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 1,454,090
Currency
MXN
Project scope and objective
The objective of this operation is to provide an A Loan of up to MX$30 million (approximately US$1.7 million) to support Equipa-T in scaling up a new financial product to finance home improvements for low-income families; as well as to increase the existing portfolio of group micro loans to women entrepreneurs. Equipa-T is a Mexican non-regulated microfinance institution, created in 2006, and headquartered in Mexico City, with branches across 12 states in Mexico. Its core credit products aim to promote the growth of microenterprises through individual and group lending methods, and recently also through a specialized product financing home improvements, which it aims to scale through partnerships with construction companies focused on the social housing market.
At the end of 2015, Equipa-T had a loan portfolio of MX$300 million (approximately US$17 million) and had more than 40,000 borrowers in Mexico, which it serves through a network of 49 branches. Currently, approximately 57% of Equipa-T’s microfinance portfolio consists of individual microloans and 43% of group lending. Equipa-T expects to provide home improvement loans to approximately 8,000 additional families, and group micro-loans to approximately 25,000 additional women entrepreneurs over the next three years.
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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 SUMMARY
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