Credito Real Women-Led SME Financing Partnership (IIC-12199-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Mexico
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
Jun 30, 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
Credito Real S.A.B. de C.V., SOFOM, E.R.
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)
$ 50.00 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)
$ 50.00 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)
$ 50.00 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 @ IIC website

Updated in EWS Sep 20, 2018

Disclosed by Bank Jun 12, 2018


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Project Description

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. 

Early Warning System Project Analysis

This project has been categorised as a FI-3 by the bank, which corresponds to a low risk or C rating. 

Investment Description
  • IDB Invest

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.

Private Actors

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.

Contact Information

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).