The Projectconsists in providing support to Banco de Occidente S.A. (the "Bank" or "Banco de Occidente")so that it may strengthen its capital through a subordinated loan for a total amount of up to US$100 million, made up as follows: (i) a subordinated loan in the amount of up to US$70 million to be financed by IDB Invest; and (ii) a parallel subordinated loan in the amount of up to US$30 million to be financed by a co-lender. The term of the financing will be up to 10 years. The loan will be used to finance Small and Medium-Sized Enterprises ("SMEs").
In addition, IDB Invest will provide Banco de Occidente S.A., technical advisory services to strengthen the sustainable financing strategy for its social portfolio, focused on SMEs, and the green portfolio or blue economy.
Another USD30 million is going to come from a co-lender.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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ACCOUNTABILITY MECHANISM OF IDB / 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 (IDB Invest)-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 IDB Invest 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).