Scotiabank El Salvador, S.A.
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Guevara Sanchez, Marvin
USD $ 12,500,000
USD $ 25,000,000
Project scope and objective
The proposed transaction consists of a senior unsecured loan for Scotiabank El Salvador, S.A. (Scotiabank) for up to US$37.5 million. The loan package consists of an unsecured senior loan for up to US$37.5 million, including: (i) US$15 million from IDB Invest; (ii) US$10 million from IDB; and (iii) US$12.5 million mobilized through possible co-financing to be financed by IDB Invest in its capacity as administrator of the China Co-financing Fund for Latin America and the Caribbean (the “Fund”). IDB Lab will, in turn, provide technical advisory services on the design and implementation of an SME digital platform called “Let’s SME” that seeks to provide digital financial services to Scotiabank’s SME clients.
For inquiries, comments and information requests about the projectRequest information
Alternatively, you may also use the following contact information:
Ana Marcela Trabanino
IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005