The bank affirms that the proposed investment (the "Project") consists of a debt facility for up to US$50 million to expand Banco Itau Argentina S.A. ("Itau Argentina" or the "Bank") small and medium enterprises ("SMEs") lending program (up to US$15 million, with a 5-year tenor), and its sustainable energy finance (“SEF”) portfolio (up to US$35 million, with a 7-year tenor) in Argentina (the “Country”).

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Itau Argentina, a fully-owned subsidiary of Itau Unibanco Holding, started its operations in 1979 and currently is a medium-size bank, holding a 1.4% market share, offering a wide range of products and services to individuals, SMEs, and large corporations.

For inquiries abotut this project, contact: 

Banco Itau Argentina S.A. 
Santiago Perrone 
Head International Finance Institutions 
54 11 52733513 
santiago.perrone@itaubba.com 
Tucuman 1, CABA, Argentina 
www.itau.com.ar 

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/