The proposed operation consists of a senior unsecured loan to Banco Continental for an amount of up to US$100 million, that contemplates: (i) a Committed Tranche I: which consists of an A Loan of up to US$50 million; (ii) an Uncommitted Tranche II: consisting of an A Loan of up to US$50 million; and (iii) the operation contemplates the possibility of mobilizing resources from institutional investors through a B Loan for an amount to be determined in accordance with market conditions.
The operation will have a term of up to five years, with up to two years of grace period.
The funds from the operation will be used to finance the growth of Banco Continental's green portfolio in Paraguay.
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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).