Familiar CL (IFC-42281)

Countries
  • Paraguay
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
May 3, 2019
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 FAMILIAR S.A.E.C.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)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 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)
$ 25.00 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 11, 2019

Disclosed by Bank Apr 3, 2019


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Project Description

The proposed investment consists of an up to 5-year loan for up to US$8 million to be provided by IFC to Banco Familiar S.A.E.C.A (“Familiar” or the “Bank”) and an up to 3-year loan for up to US$17 million to be mobilized from other lenders under IFC's B lender program to expand the Bank’s micro, small and medium enterprises (“MSMEs”) lending program (the “Project”) in Paraguay (the “Country”).

People Affected By This Project

The Project will contribute to close the finance gap for MSMEs in Paraguay, leveraging the Bank's operational capacity to lend to this segment. In addition, IFC anticipates that the Project will have economy-wide effects by promoting job creation.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

 Familiar is a niche bank traditionally focused in providing consumer loans to individuals in the base of the pyramid. The Bank developed into a fully integrated bank offering saving products, transactional services, loans and other services to MSMEs and corporates, without losing its traditional focus in the consumer segment. Headquartered in Asunción, Familiar currently employs 1,088 staff and has 55 branches across the Country, the fourth largest branch network among private banks.

Familiar has a diverse shareholder base composed mainly by Paraguayan families. No individual nor single family has the single majority of the shares.  Alfredo Steinmann Rosenbaum is the largest individual shareholder with 6.2% of the voting rights (10.2% when combined with other members of the family). The Camperchioli family is the largest shareholder group with a combined 26.4% of the voting rights.             

Contact Information

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/