Company name
Tanner Servicios Financieros S.A.
Project number
11363-06
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
Chile
Sector
Financial Institutions
Status
In implementation
Disclosed date
10/16/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/02/2020
Approval date
12/04/2020
Signed date
12/04/2020
Sponsoring entity
N/A
Team leader
Patti, Lucila Andrea
Investment type
Syndicated amount
USD $ 72,000,000
Financing amount
USD $ 36,000,000
Currency
USD
Project scope and objective
The Project aims to finance Small and Medium-sized Enterprises (“SMEs”) through factoring and financial leasing operations in Chile. The proposed operation consists of a credit facility for approximately US$100 million. The loan will have a tenor for up to five years, and consisting of: (i) an A Loan of up to US$40 million to be financed by IDB Invest; ii) a co-loan of up to US$20 million; and (iii) a B Loan of up to US$40 million to be financed by participating investors. The project will also enable Tanner to expand the financial services it offers to its clients, diversify its sources of financing, and, at the same time, improve the structure of its assets and liabilities.
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Contact information
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Client Contact
CONTACT NAME
Gustavo Inostroza
POSITION
Finance Manager
PHONE NUMBER
+56 2 33257150
gustavo.inostroza@tanner.cl
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.
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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