Sudameris MSME Financing Partnership (IDBI-12933-01)

Countries
  • Paraguay
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
Feb 6, 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
Sudameris Bank S.A.E.C.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
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)
$ 46.00 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)
$ 46.00 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 Apr 2, 2020

Disclosed by Bank Mar 12, 2019


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Project Description

The proposed operation contemplates a senior unsecured loan of up to PYG300,000,000,000 (US$46 million) that will be financed by BID Invest. The term of the Loan is up to five years, with two years of grace period and semiannual amortization. The Loan funds will be used to finance Micro, Small and Medium Enterprises ("MSMEs") in Paraguay.

People Affected By This Project

Task

Description

Deadline

Update of ESMS to incorporate IFC PS

Sudameris will update its ESMS, specifically with the aim to incorporate the IFC PS into the Bank's Environmental and Social Policy, applicable to the relevant transactions; Project Finance financing and corporate loans, with investment cost equal to or greater than US$10 million and credit term equal to or greater than 36 months.

9 months post disbursement

6.Contact Information. For 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.

Investment Description
  • IDB Invest (IDBI)
Contact Information

Client Contact name: Francisco Olivera
Title: Treasury Head
Phone number: +595-21-416-6190
email address:
francisco.olivera@sudameris.com.py

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).