Company name

Fondo Esperanza SpA

Project number

13288-01

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
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FI-3

Country

Chile

Sector

Financial Institutions

Status

Proposed

Disclosed date

09/13/2022

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

Projected board date
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11/21/2022

Approval date

11/21/2022

Signed date

N/A

Sponsoring entity

N/A

Team leader

Penagaricano, Matilde

Investment type

Syndicated amount

N/A

Financing amount

USD $ 10,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of a senior loan of up to US$10 million (the “Loan”), financed by IDB Invest. The Loan has a tenor of three years, with semiannual amortization. The Loan funds will be used to finance microentrepreneurs of low income in Chile, as well as to design gender advisory services.

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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.

MICROFINANCE PARTNERSHIP FONDO ESPERANZA - 13288-01- ESRS (ENG)

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Catalina Valenzuela

POSITION

Gerente de Administración y Finanzas

PHONE NUMBER

+56 995583917

EMAIL

mvalenzuela@fondoesperanza.cl

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices

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