According to IIC website, this project will consist of a loan to Credito Real SAB de DV, SOFOM ER to support the growwth of small and medium-sized enterprises (SMEs) in Mexico. The project aims to promote access to financing for SMEs led by women through financial productions such as leasing which provide a comprehensive approach to serving the female market.
Further, this project will be complemented by technical assistance to support the efforts of Credito Real to become a role model for leasing operations with a gender focus.
This project has been categorised as a FI-3 by the bank, which corresponds to a low risk or C rating.
The proposed loan for Crédito Real S.A.B. de C.V., SOFOM E.R. is for up to the Mexican peso equivalent of US$50 million, or MEX$1 billion, whichever is less. The term of the loan is expected to be up to five years.
The main sectors that Crédito Real finances are the following: Commerce (30%), Services (17%), Hotels (10%), Mattress Industry (7%), Food (7%), and Other (29%). The average sub-loan size is US$130,000.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF IIC
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).