Itau Arg CL (IFC-40916)

Countries
  • Argentina
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
Proposed
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
Apr 25, 2018
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 ITAU ARGENTINA 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)
$ 50.00 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)
$ 50.00 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 Apr 27, 2018

Disclosed by Bank Mar 23, 2018


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Project Description

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”).

Investment Description
  • International Finance Corporation (IFC)
Private Actors

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.

Contact Information

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/