Company name

St. Georges Bank & Company Inc.

Project number

12412-01

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
tooltip

FI-2

Country

Panama

Sector

Financial Institutions

Status

In implementation

Disclosed date

01/15/2019

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

Projected board date
tooltip

02/19/2019

Approval date

02/19/2019

Signed date

04/09/2019

Sponsoring entity

N/A

Team leader

Balevich Macarenko, Anna

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 25,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of a senior unsecured financing to St. Georges Bank & Company Inc. (the “Bank”) of up to US$25 million which is expected to be comprised as follows: (i) IDB Invest Senior Loan of up to US$5 million to be funded by the IDB Invest with a three-year tenor; (ii) IDB Subordinated A Loan of up to US$20 million to be funded by the IDB Invest with an 8-year tenor. The Project will be complemented by supporting the Bank on developing a Sustainable Finance initiative that will include four layers of advisory services support. First, the development of corporate sustainability policy. Second, the establishment of procedures and capabilities that allow the Bank’s functionaries to identify and manage green investments in SME segment. Third, the analysis and improvement of risk policy on environmental, social and climate risk. Fourth, support the Bank on maximizing benefits from the previous three layers to increase SMEs credit origination in sustainable investments.

For inquiries, comments and information requests about the project

Request information

Learn 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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

45.4 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

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

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

N/A

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