The proposed transaction consists of a senior loan of up US$10 million (the "Loan") from IDB Invest. The Loan has a twelve-month tenor, is amortized at maturity, and isrenewable for three additional periods of up to 12 months at the discretion of IDB Invest. The project involves funding Progreso to increase its operation (balance) by offering more lending access to Micro, Small, and Medium-Sized Enterprises ("MSMEs") customers, as well as adding new MSMEs to its portfolio.
Additionally, climate-related technical advisory services are being designed.
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
ACCESS TO INFORMATION
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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).