BAM Loan (IFC-42398)

Countries
  • Guatemala
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 13, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Banco Agromercantil de Guatemala S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Small & Medium Enterprises
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 225.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 2, 2020

Disclosed by Bank May 3, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed investment in Banco Agromercantil de Guatemala S.A. (“BAM” or “the Bank”), consists of a senior financing package of up to US$225 million to support the growth of the Bank’s small and medium-sized enterprises (“SMEs”) and housing loan portfolios.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
AES Corp Parent Company Energy owns AES Colon Gas-Fired Power Client Energy
ALCA Ingenieria Parent Company Transport owns Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
C & D Ingenieria Parent Company Transport owns Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
Castro Tcherassi Parent Company Transport owns Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
Civilia Parent Company Transport owns Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
CSS Constructores SA Parent Company Transport owns Neiva-Girardot Highway Client Transport
El Condor Parent Company Transport owns Ruta al Mar Toll Road (491KM) PPP Client Transport
Equipo Universal Parent Company Transport owns Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
Ferrovial SA Parent Company Transport owns Ruta Del Cacao Client Transport
Fortress Investment Group Parent Company Transport owns Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
Gavinco Ingenieros Parent Company Transport owns Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
Glenfarne Group Parent Company Energy owns Acquisition of Termoflores Flores CCGT Power Plant (610MW) Client Energy
Grupo Bancolombia Investor Finance invests in Accesos Norte Bogota Highway Parent Company Transport
Grupo Bancolombia Investor Finance invests in Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
Grupo Bancolombia Investor Finance invests in Acquisition of 30% in Ruta del Cacao Concession Client Transport
Grupo Bancolombia Investor Finance invests in Acquisition of Cartagena-Barranquilla Highway (146.7KM) PPP Client Transport
Grupo Bancolombia Investor Finance invests in Acquisition of Termoflores Flores CCGT Power Plant (610MW) Client Energy
Grupo Bancolombia Investor Finance invests in AES Colon Gas-Fired Power Client Energy
Grupo Bancolombia Investor Finance invests in AES Corp Parent Company Energy
Grupo Bancolombia Investor Finance invests in ALCA Ingenieria Parent Company Transport
Grupo Bancolombia Investor Finance invests in C & D Ingenieria Parent Company Transport
Grupo Bancolombia Investor Finance invests in Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
Grupo Bancolombia Investor Finance invests in Castro Tcherassi Parent Company Transport
Grupo Bancolombia Investor Finance invests in Civilia Parent Company Transport
Grupo Bancolombia Investor Finance invests in CSS Constructores SA Parent Company Transport
Grupo Bancolombia Investor Finance invests in El Condor Parent Company Transport
Grupo Bancolombia Investor Finance invests in El Dorado International Airport PPP Refinancing 2020 Client Transport
Grupo Bancolombia Investor Finance invests in Empresa De Energia De Bogota Parent Company Energy
Grupo Bancolombia Investor Finance invests in Equipo Universal Parent Company Transport
Grupo Bancolombia Investor Finance invests in Ferrovial SA Parent Company Transport
Grupo Bancolombia Investor Finance invests in Fortress Investment Group Parent Company Transport
Grupo Bancolombia Investor Finance invests in Gavinco Ingenieros Parent Company Transport
Grupo Bancolombia Investor Finance invests in Glenfarne Group Parent Company Energy
Grupo Bancolombia Investor Finance invests in Grupo Argos SA Parent Company Construction
Grupo Bancolombia Investor Finance invests in Grupo Energia Bogota SA ESP Parent Company Mining
Grupo Bancolombia Investor Finance invests in GTM Holdings Parent Company Mining
Grupo Bancolombia Investor Finance invests in GTM Holdings and Quantiq Distribuidora Corporate Facility Client Mining
Grupo Bancolombia Investor Finance invests in ICEIN Parent Company Transport
Grupo Bancolombia Investor Finance invests in Integra de Colombia Parent Company Transport
Grupo Bancolombia Investor Finance invests in Interconexion Electrica Parent Company Transport
Grupo Bancolombia Investor Finance invests in Interconexion Electrica SA ESP Parent Company Energy
Grupo Bancolombia Investor Finance invests in Inversiones Corso Parent Company Energy
Grupo Bancolombia Investor Finance invests in Isagen SA ESP Parent Company Energy
Grupo Bancolombia Investor Finance invests in John Laing Parent Company Transport
Grupo Bancolombia Investor Finance invests in Mincivil Parent Company Transport
Grupo Bancolombia Investor Finance invests in MOTA-ENGIL Parent Company Transport
Grupo Bancolombia Investor Finance invests in Neiva-Girardot Highway Client Transport
Grupo Bancolombia Investor Finance invests in Ofinsa Inversiones Parent Company Transport
Grupo Bancolombia Investor Finance invests in Operadora Aeroportuaria Internacional Parent Company Transport
Grupo Bancolombia Investor Finance invests in Organizacion Terpel SA Parent Company Mining
Grupo Bancolombia Investor Finance invests in Partners Group Parent Company Energy
Grupo Bancolombia Investor Finance invests in Procaps SA Parent Company Education and Health
Grupo Bancolombia Investor Finance invests in Ruta al Mar Toll Road (491KM) PPP Client Transport
Grupo Bancolombia Investor Finance invests in Ruta Del Cacao Client Transport
Grupo Bancolombia Investor Finance invests in Termotasajero Coal Power Plant Unit 2 (161.6MW) Refinancing Client Energy
GTM Holdings Parent Company Mining owns GTM Holdings and Quantiq Distribuidora Corporate Facility Client Mining
ICEIN Parent Company Transport owns Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
Integra de Colombia Parent Company Transport owns Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
Interconexion Electrica Parent Company Transport owns Acquisition of Cartagena-Barranquilla Highway (146.7KM) PPP Client Transport
Inversiones Corso Parent Company Energy owns Termotasajero Coal Power Plant Unit 2 (161.6MW) Refinancing Client Energy
John Laing Parent Company Transport owns Acquisition of 30% in Ruta del Cacao Concession Client Transport
Mincivil Parent Company Transport owns Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
MOTA-ENGIL Parent Company Transport owns Cambao-Manizales Highway (256KM) PPP Bridge Facility Client Transport
Ofinsa Inversiones Parent Company Transport owns Accesos Norte de Bogota I Road (66KM) Expansion PPP Client Transport
Operadora Aeroportuaria Internacional Parent Company Transport owns El Dorado International Airport PPP Refinancing 2020 Client Transport
Partners Group Parent Company Energy owns Acquisition of Termoflores Flores CCGT Power Plant (610MW) Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Banco Agromercantil 
Aleyda Palma 
Manager International Banking 
(502) 2362-2623 

7a Avenida 7-30 Zona 09, Guatemala City 
bam.com.gt 

 

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

 

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/

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How it works