Caja de Ahorros de Panama (MIGA-14593)

Countries
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
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
May 3, 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
Yet to be identified lender
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Mar 9, 2020

Disclosed by Bank Mar 3, 2020


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Project Description

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.

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information

*Project contacts not provided at the time of disclosure.*

 

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