COOPAC Pacifico Subordinado (IDBI-12325-02)

Countries
  • Peru
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.
Borrower
Cooperativa de Ahorro y Credito Pacifico
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)
$ 20.00 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)
$ 20.00 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 Aug 7, 2019

Disclosed by Bank Aug 6, 2019


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Project Description

According to IDB website, the financing consists of an A/B subordinated loan for up to US$20 million to Cooperativa de Ahorro y Crédito Pacífico with a tenor of up to 6.5 years with repayment in a single bullet repayment at maturity. It aims to strengthen Pacifico’s capital base and support its growth strategy in micro and small enterprises and social housing.

People Affected By This Project

Task

Description

Deliverable

Deadline

Hiring of external consultant

Pacifico to hire an external consultant to assist in developing and implementing ESMS with focus given to risks present in the productive sector.

Consultant's contract

One month after first disbursement

Development of ESMS

Pacifico to develop ESMS consistent with IDB Invest Policy, and in line with IFC Performance Standard 1[1]. Including IDB's exclusion list and any exclusion list from a third party required by the IDB-Invest.

ESMS document

6 months post disbursement

6. Contact InformationFor project inquiries, including environmental and social questions related to an IDB Invest transaction please contact the client (seeInvestment Summarytab), or IDB Invest using the emaildivulgacionpublica@iadb.org. As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing tomecanismo@iadb.orgorMICI@iadb.org, or calling +1(202) 623-3952.

[1]https://www.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/sustainability-at-ifc/publications/publications_policy_interpretationnote-fi

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

Anthony Miyagusuku
Credit Policies Chief and Portfolio Supervisor
Phone Number: +511 7192100
Email Address:
anthony.miyagusuku@cp.com.pe

ACCOUNTABILITY MECHANISM OF 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 (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).