Original disclosure @ MIGA website
Updated in EWS Mar 9, 2020
Disclosed by Bank Mar 3, 2020
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This investment covers loans from bank(s) yet-to-be-identified to Caja de Ahorros, a state-owned bank in Panama. MIGA guarantees of up to US$545 million for a period of up to 15 years against the risk of Non-Honoring of a Financial Obligation by a State-owned Enterprise (NHFO-SOE) are being considered.
The proposed project involves the expansion of mortgage lending to lower-income and women-headed households by Caja de Ahorros, a wholly-owned financial institution of the Government of Panama.
This project is Category FI-3 according toMIGA's Policy on Environmental and Social Sustainability.
*Project contacts not provided at the time of disclosure.*
ACCOUNTABILITY MECHANISM OF MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/