Company name
Banco de Galicia y Buenos Aires S.A. (“Galicia”)
Project number
11609-04
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
FI-2
País
Argentina
Sector
Financial Institutions
Estado
Inactive
Disclosed date
11/03/2016
N/A
Projected board date
12/13/2016
Approval date
12/13/2016
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
División de Instituciones Financieras
Investment type
Syndicated amount
N/A
Financing amount
USD $ 150,000,000
Currency
USD
Project scope and objective
El Proyecto propuesto comprende un mecanismo de financiamiento de hasta US$100 millones (“Acuerdo de Financiamiento Sostenible”) para Banco de Galicia y Buenos Aires S.A. (“Galicia”) que permitirá a dicha institución financiar sub-proyectos con importantes beneficios ambientales en Argentina; principalmente en las áreas de energía renovable y eficiencia energética aunque también buscará apoyar otras inversiones destinadas a atenuar las emisiones de gases de efecto invernadero (“Proyectos Sostenibles”). El Acuerdo de Financiamiento Sostenible apoyará el desarrollo y crecimiento de Proyectos Sostenibles en pequeñas y medianas empresas y sociedades de pequeña y mediana escala. El instrumento financiero propuesto proporcionará a Galicia de: (i) un préstamo A por parte de la Corporación Interamericana de Inversiones (“CII”) de hasta US$30 millones; y (ii) préstamo A por parte del BID de hasta US$70 millones. En total, la financiación del Grupo BID será de hasta US$100 millones, a ser desembolsada durante tres años en diversos tramos por plazos de entre cinco y siete años.
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Contact information
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Client Contact
IDB Invest Contact
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
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Environmental and social review
REVISIÓN DE TEMAS MEDIOAMBIENTALES
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