Fedecredito (DPR 2023) - Women Entrepreneurs Empowerment Bond (IDBI-14639-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • El Salvador
Geographic location where the impacts of the investment may be experienced.
Specific Location
San Salvador
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 13, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Fedecredito Compañía de Financiamiento de Remesas
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Oct 15, 2023

Disclosed by Bank Oct 13, 2023

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

El proyecto consiste en la emisión por parte de Fedecredito (el "Patrocinador") de su primer Bono Social con Lente de Género bajo su Programa de Titulización de Remesas ("RSP" o el "Programa"). El monto total del Bono es de hasta US$85 millones con un plazo de siete años. La suscripción de BID Invest será de hasta US$25 millones. Otros inversores potenciales participarán con hasta 60 millones de dólares. Según el Programa, Fedecredito (el "Patrocinador") ha vendido todos sus derechos sobre sus Derechos de Remesas ("RR") existentes y futuros denominados en Estados Unidos a Fedecredito Remittance Funding Company, el vehículo de propósito especial ("SPV"). La SPV emite bonos cuyo reembolso de principal e intereses está respaldado por estos RR. El pago del RR de la SPV a Fedecredito se realiza con el producto de las notas emitidas. Esta es la segunda transacción de BID Invest con el RSP de Fedecredito.

Los recursos del Bono estarán destinados a ampliar el financiamiento ofrecido por las Entidades Miembro de Fedecredito ("ME") a Micro, Pequeñas y Medianas Empresas ("MIPYMES") y MIPYMES Lideradas por Mujeres ("MIPYMES").

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Fedecredito de C.V. Client Finance

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CORREO ELECTRÓNICO: requestinformation@idbinvest.org

TELÉFONO: +1(202)-566-4566

DIRECCIÓN: 1350 New York Ave NW, Washington, DC 20005

ACCESO A LA INFORMACIÓN

Puede enviar una solicitud de divulgación de información en: https://www.iadb.org/en/access-information/information-request

MECANISMO DE RENDICIÓN DE CUENTAS DEL BID / BID INVEST

El Mecanismo Independiente de Consulta e Investigación (MICI) es el mecanismo independiente de denuncia y organismo de investigación para personas que han sido o pueden ser afectadas negativamente por un Banco Interamericano de Desarrollo (BID) o la Corporación Interamericana de Inversiones (BID Invest). )-proyecto financiado. Si presenta una queja ante el MICI, ellos pueden ayudarlo a abordar los problemas que planteó a través de un proceso de resolución de disputas con quienes implementan el proyecto y/oa través de una investigación para evaluar si el BID o BID Invest está siguiendo sus propios . Políticas para prevenir o mitigar el daño a las personas o al medio ambiente. Puede presentar una queja enviando un correo electrónico a MICI@iadb.org. Puede conocer más sobre el MICI y cómo presentar una denuncia en http://www.iadb.org/en/mici/mici,1752.html (en inglés) o http://www.iadb.org/es/ mici/ mici,1752.html (español).

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How it works