The proposed transaction with First Citizens Group Financial Holdings Limited ("First Citizens" or "FC") consists of a senior unsecured financing for no more than US$175 million with a tenor of up to seven years, to be funded by IDB Invest. The purpose of the financing is to support First Citizens' strategy to: (i) grow its low- and middle-income household mortgage portfolio; (ii) develop its digitalization investments; and (iii) expand its SME lending portfolio.
In addition, First Citizens has signed an agreement for technical advisory services provided by IDB Invest for the development of a Green Finance portfolio and line of business. Advisory services will include the development of a sustainable finance strategy, a portfolio analysis and segmentation and the development of at least one green financial product.
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ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).