Bancamia Bond II (IFC-37072)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Colombia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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
Dec 9, 2015
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
BANCO DE LAS MICROFINANZAS BANCAMIA S.A.
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2015-12-09 exchange rate.
Project Cost (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2015-12-09 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 4, 2015


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Project Description

This project provides funds to BANCO DE LAS MICROFINANZAS BANCAMIA S.A., a Colombian bank specializing in financing to rural areas. Specifically, the funds will go towards micro-financing of small and medium sized enterprises in rural Colombia.

People Affected By This Project

The development impact of the project is expected to be high as IFC''s investment will enhance Bancamia''s ability to support productive micro-enterprises which will in turn stimulate growth, employment generation and poverty reduction. Additionally, the Bank will be able to increase its outreach and sustainability by incorporating new entrepreneurs into Colombia''s formal financial sector. Bancamia is committed to targeting the bottom of the pyramid, as evidenced by its low US$1,160 average loan size. With IFC''s support, the Bank should be able to directly reach more than 100,000 individual micro-entrepreneurs.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Bancamia’s largest shareholder is Fundación Microfinanzas BBVA (“FMBBVA”) with a 47.6% equity stake. FMBBVA is a non-profit institution created in 2007 by the BBVA Group to promote sustainable and inclusive economic and social development through productive finance. It focuses its activity by supporting the integration and development of microfinance institutions in Latin America.

Contact Information

Project Inquiries:
Marcelino Romero
Chief Financial Officer, Bancamía
Phone: +571 313 93 00 Ext. 801
Address: Cra. 9 # 66-25 Piso 5, Bogotá, Colombia
E-mail: mailto:marcelino.romero@bancamia.com.co

Humberto Fernandez
Treasury Manager, Bancamia
Phone: +571 313 93 00 Ext. 808
Address: Cra. 9 # 66-25 Piso 5, Bogotá, Colombia
E-mail: mailto:humberto.fernandez@bancamia.com.co

ACCOUNTABILITY MECHANISM OF IFC

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/