Company name
Financiera Desyfin, S.A.
Project number
CR3892A-02
N/A
E&S category
N/A
Country
Costa Rica
Sector
Financial Institutions
Status
Inactive
Disclosed date
01/19/2010
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/16/2010
Approval date
06/07/2010
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 1,000,000
Currency
N/A
Project scope and objective
Financiera Desyfin, S.A. provides factoring services, working capital loans, bid and performance bonds, revolving credit lines, pledge- and mortgage-backed loans, and time deposit and other financial services. Its target market is SMEs in Costa Rica, principally in the manufacturing, retail, and service sectors.
Financiera Desyfin, S.A. is the largest finance company in Costa Rica in terms of assets. The purpose of this IIC project is to strengthen Desyfin’s equity position by purchasing up to one million dollars in preferred shares. This will enable Desyfin to expand its SME loan portfolio.
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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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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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