SME Financing Agreement with Banco Promerica Guatemala (IDBI-11866-02)

Countries
  • Guatemala
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
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 14, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Banco Promerica, S.A. (Guatemala)
The holder of the loan, grant, or other investment.
Sectors
  • 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, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Mar 9, 2020

Disclosed by Bank Jun 12, 2019


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Project Description

The proposed transaction consists of unsecured financing to Banco Promerica S.A. -Guatemala- ("BPGT" or the "Bank) denominated in US dollars ("US$") for up to US$25 million; to be financed by IDB Invest (the "Project"). The Project's objective is to assist BPGT to improve access to funding for small and medium-sized enterprises ("SMEs") and contribute to the growth of its "green financing" portfolio. The Project will be supported by technical assistance which will focus on the mentioned "green financing" portfolio.

Investment Description
  • IDB Invest (IDBI)
Private Actors
Contact Information

Client Contact Name: Marvin Avila
Title: Assistant Financial Planning Manager
Phone number: +50224139503
Email address:
marvin.avila@bancopromerica.com.gt

ACCOUNTABILITY MECHANISM OF IADB

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 (IIC)-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 IIC 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).