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Company name

Finabank N.V.

Project number

12132-03

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
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FI-2

Country

Suriname

Sector

Financial Institutions

Status

Inactive

Disclosed date

06/12/2020

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

Projected board date
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07/28/2020

Approval date

07/28/2020

Signed date

10/26/2020

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 3,000,000

Currency

USD

Project scope and objective

The project’s main objective is to support Finabank’s SME portfolio by providing additional sources of US$ funding as a response mechanism to the effects of the COVID-19 pandemic. With IDB Invest’s support, the Bank will have access to funds to finance its SME portfolio, facilitating loan access for private companies in an environment where financial options are limited, especially for medium-and long-term needs in US$.



Established in 1991, Finabank operates in several areas of the commercial and retail banking sector, offering a wide range of products and financial services. Finabank’s main focus has been to stay actively involved in client needs and offer customized financial services and products in order to create long-lasting partnerships.


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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

47.8 Kb

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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

For inquiries, comments and information requests about the project

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