BancompartirBond (IFC-38352)

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
Approved
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
Oct 10, 2016
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 COMPARTIR 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)
$ 17.28 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 17.28 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 24, 2018

Disclosed by Bank Sep 2, 2016


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Project Description

This Project consists of subscribing senior bonds to Bancompartir (the “Bank”) for up to COP 50,000 million (approximately US$16.5 million), to support the growth of the Bank’s microenterprise loan portfolio. IFC’s financial support and mobilization efforts should send a positive signal to the market, as it would provide medium-to-long term financing through a bond issuance aimed at targeted institutional investors, ultimately deepening financial and capital markets in Colombia.

Investment Description
  • International Finance Corporation (IFC)

Bancompartir’s is a financial institution supervised by the Superintendencia Financiera de Colombia, with the following shareholders: Fundación Compartir with a 22.45% stake, the following Cajas de Compensación Familiar (“Cajas”) in Colombia: Colsubsidio with a 20.14% stake, Cafam with a 20.14% stake, Comfandi with a 20.14% stake and Comfenalco Cartagena with a 7.32% stake. Among other shareholders include Accion Gateway Fund LLC with a 5.49% stake, the remaining 4.30% is held by several minority shareholders, with less than a 2.0% individual stake.

The Cajas are non-for profit organizations which are part of the Country’s social security system, with the objective to provide benefits to affiliates such as recreation, education, and health. Fundación Compartir is a non-profit institution founded in 1979, as an initiative to support victims of different natural disasters that hit Colombia in 1979. As of today, Fundación Compartir is focused in improving the quality of education for children and youth in Colombia. On the other hand, Accion Gateway Fund LLC is a global non-profit organization that supports microfinance institutions around the world.

Private Actors

Bancompartir’s is a financial institution supervised by the Superintendencia Financiera de Colombia, with the following shareholders: Fundación Compartir with a 22.45% stake, the following Cajas de Compensación Familiar (“Cajas”) in Colombia: Colsubsidio with a 20.14% stake, Cafam with a 20.14% stake, Comfandi with a 20.14% stake and Comfenalco Cartagena with a 7.32% stake. Among other shareholders include Accion Gateway Fund LLC with a 5.49% stake, the remaining 4.30% is held by several minority shareholders, with less than a 2.0% individual stake.

Contact Information

For inquiries about the project:
Maria Fernanda Rojas Villareal
Chief Financial Officer, Bancompartir
Phone: + (571) 286 8609 Ext. 223
Address: Calle 16 #6-66 Ed. Avianca, Piso 4, Bogotá Colombia
E-mail: mailto:fernanda.rojas@bancompartir.co
Web: http://www.bancompartir.co

Alvaro Ortiz Morales
Treasury Manager, Bancompartir
Phone: + (571) 286 8609 Ext. 216
Address: Calle 16 #6-66 Ed. Avianca, Piso 4, Bogotá Colombia
E-mail: mailto:alvaro.ortiz@bancompartir.co
Web: http://www.bancompartir.co

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

ACCOUNTABILITY MECHANISM OF IFC/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/