Company name
Mutual Cartago de Ahorro y Préstamo (MUCAP)
Project number
CR3976A-02
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
Costa Rica
Sector
Financial Institutions
Status
Inactive
Disclosed date
05/27/2015
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/14/2015
Approval date
09/28/2015
Signed date
N/A
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
Founded in September 1970 in the province of Cartago, MUCAP is well established in Costa Rica’s financial system. MUCAP is now the second largest mutual savings bank in Costa Rica. As a company authorized by the Banco Hipotecario de Vivienda, MUCAP is overseen by the regulatory bodies of the Costa Rican financial market.
MUCAP has 33 locations in seven provinces and offers its clients an extensive portfolio of products including loans to purchase, build, or repair homes, loans to small and medium-sized enterprises, and consumer loans. The company also offers its clients attractive savings and investment products.
The goal of this IIC operation is to provide long-term financing to MUCAP so that, in turn, it can provide financing for low-income housing and to micro, small, and medium-sized enterprises throughout Costa Rica.
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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
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