Company name

Banco Promerica, S.A. (Guatemala)

Project number

11866-02

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

Guatemala

Sector

Financial Institutions

Status

In implementation

Disclosed date

12/06/2019

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

Projected board date
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01/14/2020

Approval date

02/11/2020

Signed date

03/16/2020

Sponsoring entity

N/A

Team leader

Espinoza Diaz, Jose Alejandro

Investment type

Syndicated amount

USD $ 25,000,000

Financing amount

USD $ 25,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of unsecured financing to Banco Promerica S.A. -Guatemala- (“BPGT” or the “Bank) denominated in US dollars (“US$”) for up to US$25 million; to be financed by IDB Invest (the “Project”). The Project’s objective is to assist BPGT to improve access to funding for small and medium-sized enterprises (“SMEs”) and contribute to the growth of its “green financing” portfolio. The Project will be supported by technical assistance which will focus on the mentioned “green financing” portfolio.

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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

49.8 Kb

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Marvin Avila

POSITION

Assistant Financial Planning Manager

PHONE NUMBER

+50224139503

EMAIL

suscripciones.financieras@bancopromerica.com.gt

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