BanBif Green Finance Partnership (Subdebt) (IDBI-11774-04)

Countries
  • Peru
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 26, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Banco Interamericano de Finanzas S.A (BanBif)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Campaign Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 23, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank, the Borrower shall use the proceeds of the Subordinated Loan to support its capital structure by increasing its Tier 2 Capital. On the other hand, IDB Invest and BanBif will work together with the support of the Advisory Services Division of IDB Invest to undertake activities aimed at identifying and capturing opportunities for "green" and climate resilient lending, and developing the institutional capacity.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Task

Description

Deadline

Update of ESMS

Enhance ESMS to address E&S risks/opportunities present under a new green line product. Incorporate a climate change analysis within the ESMS. ESMS will reflect the performance requirements to achieve a 20% improvement in sectors financed (energy, water, resource efficiency, etc.), and confirm eligibility against established criteria.

1 year post disbursement

Training

Through an IDB Invest/BanBif defined technical assistance package, strengthen institutional capacity related to green lines, in particular (i) training commercial teams on opportunity identification; (ii) defining methodologies for measuring green line performance; (iii) defining strategic alliances at the local level to help structure and originate opportunities.

To be defined under the TA

Green line portfolio development

With the support of IDB Invest and the assistance of a consultant (individual or firm) contracted for the purpose, BanBif will undertake activities aimed at identifying and capturing opportunities for "green" and climate resilient lending, and developing the institutional capacity required for originating, structuring and placing such products. BanBif will consider contributing in kind and/or financially to cover the cost of the consultant alongside IDB Invest.

Terms of reference and contribution in general, from BanBif, to be confirmed by first disbursement.

6. Contact Information.For project inquiries, including environmental and social questions related to an IDB Invest transaction please contact the client (seeInvestment Summarytab), or IDB Invest using the emaildivulgacionpublica@iadb.org. As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing tomecanismo@iadb.orgorMICI@iadb.org, or calling +1(202) 623-3952.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client Contact Name: Eduardo Rios Aleman
Title: Manager of Treasury Division and Capital Markets
Telephone: (+511) 6133224
Email address: eriosa@banbif.com.pe

Contact Information. For project inquiries, including environmental and social questions related to an IDB Invest transaction please contact the client (see Investment Summary tab), or IDB Invest using the email divulgacionpublica@iadb.org. 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(202) 623-3952.

How it works

How it works