COSAMI R.L. (DFC-2024-COSAMIRL)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Guatemala
Geographic location where the impacts of the investment may be experienced.
Specific Location
Quetzaltenango
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
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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."
Borrower
COSAMI R.L.
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)
$ 20.00 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)
$ 20.00 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)
$ 23.60 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 @ DFC website

Updated in EWS Jan 4, 2025

Disclosed by Bank Dec 4, 2024

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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.

The Project will expand the cooperative’s mortgage lending to lowerincome borrowers in Guatemala. The cooperative’s members are located in largely rural and peri-urban areas of the Western Highlands and largely  consist of individuals who identify as members of the indigenous (Maya) community

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

COSAMI. operates in majority indigenous municipalities who are disproportionately lowincome, and 100% of proceeds will go to housing loans for low-income borrowers. The Project will improve access to housing finance by using innovative business practices to provide loans to clients that face challenges securing traditional bank finance with an estimated 35% firsttime borrowers.


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.

ACCESO A LA INFORMACIÓN

A diferencia de muchas otras instituciones de financiación del desarrollo, DFC no tiene actualmente una política de acceso a la información.

En virtud de la Ley de Libertad de Información de los Estados Unidos (FOIA), la DFC está obligada a responder a las solicitudes formuladas razonablemente para obtener registros de la Agencia. Sin embargo, la DFC puede aplicar exenciones de divulgación a ciertos tipos de información y puede cobrar tarifas por responder a las solicitudes. La DFC tiene un funcionario de FOIA designado que está capacitado para responder a las solicitudes e implementar la ley. Puede obtener más información sobre cómo presentar una solicitud de FOIA en: https://www.dfc.gov/foia

MECANISMO DE RENDICIÓN DE CUENTAS DE LA CORPORACIÓN FINANCIERA INTERNACIONAL PARA EL DESARROLLO DE LOS ESTADOS UNIDOS (DFC)

La Oficina de Responsabilidad es una oficina independiente que se ocupa de las quejas sobre cuestiones ambientales o sociales relacionadas con los proyectos apoyados por la DFC. La oficina ofrece a las comunidades la oportunidad de que sus inquietudes sean analizadas y abordadas de forma independiente. Si presenta una queja ante la Oficina de Responsabilidad, esta puede ayudarlo ya sea tratando de abordar sus problemas facilitando un diálogo de resolución de problemas entre usted y quienes implementan el proyecto y/o investigando si la DFC cumplió con sus políticas para prevenir daños ambientales, sociales, laborales y de derechos humanos.

Puede encontrar más información sobre la Oficina de Responsabilidad en: https://www.dfc.gov/who-we-are/office-accountability

How it works

How it works