Global Bank Women Financing Partnership (IDBI-11881-02)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
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
Dec 11, 2018
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
Global Bank Corporation
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)
$ 160.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 160.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 23, 2018


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Project Description

According to IADB website, the objective of this transaction is to increase access to financing for small and medium enterprises and female retail clients in Panama, by creating and implementing a holistic value proposition which will support the growth of Global Bank's women and SME portfolios. To do this, IDB Invest is proposing a Senior Unsecured Loan of approximately US$ 160 million to Global Bank Corporation comprised by:

(i) A Loan of up to US$60 million to be funded by IDB Invest; and
(ii) IDB Invest B Loan expected to be of approximately US$100 million, to be funded through the sale of participations to commercial lenders. 

People Affected By This Project

For project inquiries, including environmental and social questions related to an IDB Invest investment, please contact the client or the IDB Invest using the contact information provided above.

As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism.

Tel: +1 (202) 623-3952

Fax: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

[1]Sistema de Gestion Medioambiental y Social - Version 4.0; last updated in Januay 4, 2018

[2]Proceso de Quejas Medioambientales - Version 1.0; last updated in July 23, 2015.

Investment Description
  • IDB Invest
Private Actors

Global Bank Corporation provides commercial and consumer banking services in the Republic of Panama and internationally. It operates through Banking and Financial Activities, Insurance, and Pension and Severance Funds segments.

Contact Information

Project Contact: Carlos Mouynes
CFO, Global Bank Corporation
Phone number: (+507) 206-6613
E-mail address: carlos.mouynes@globalbank.com.pa

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).