Company name
EUROCAPITAL S.A.
Project number
14876-01
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
Regional
Sector
Financial Institutions
Status
Proposed
Disclosed date
05/10/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/09/2024
Approval date
10/09/2024
Signed date
10/18/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
USD $ 10,000,000
Financing amount
USD $ 19,943,200
Currency
COP, USD
Project scope and objective
The proposed transaction consists of a financing of up to US$30 million that will allow Eurocapital S.A. (“Eurocapital”) to expand its factoring and financial leasing operations with Small and Medium Enterprises (“SMEs”) in Chile, Peru and Colombia. The transaction contemplates: (i) an unsecured senior A/B Loan for up to US$25 million to Eurocapital, composed of: (a) an A Loan for up to US$15 million, to be financed by IDB Invest; and (b) a B Loan for an approximate amount of US$10 million, to be financed by institutional investors, this loan will have a term of up to two years, which may be renewed for up to two additional periods of up to two years each, at the discretion of IDB Invest; and (ii) an uncommitted revolving credit line for an amount of up to US$5 million or its equivalent in local currency, which will have a term of 390 days. The proceeds of the loan will be used to finance SMEs through factoring and financial leasing operations.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
lpollarolo@eurocapital.cl
PHONE NUMBER
+562 23274004
POST OFFICE ADDRESS
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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
EUROCAPITAL RG -FINANCING PARTNERSHIP 14876-01-RG - ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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