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Company name

Fundación Andrés Bello

Project number

VE2077A-01

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E&S category
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Country

Venezuela

Sector

Social Infrastructure

Status

Inactive

Disclosed date

02/19/2017

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

Projected board date
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04/14/2017

Approval date

04/14/2004

Signed date

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Sponsoring entity

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Investment Operations Department Contact

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Investment type

Syndicated amount

USD $ 880,000

Financing amount

USD $ 4,220,000

Currency

N/A

Project scope and objective

The purpose of IIC's participation is to improve the risk profile of the transaction and to help Fundación Andrés Bello obtain financing under better terms and conditions. Besides, the introduction of a new product such as partial loan guarantees also seeks to help foster financial intermediation and increase the level of loans as a percentage of the assets of Venezuelan financial institutions. IIC's participation also makes long-term financing in local currency available to companies that are not necessarily exporters.

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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

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

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PHONE NUMBER

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POST OFFICE ADDRESS

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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