The proposed project consists of a senior loan of up to US$70 million to Global Bank Corporation y Subsidiarias (“Global Bank”) to be used to support on-lending activity in Panama’s low- and middle-income mortgage sector for families where women are head of households and SMEs that are women-owned enterprises. According to the bank, the most significant expected project-level effect is increased access to housing finance for low-income and middle-income female households in Panama, and increased access to women entrepreneurs. Beyond the project-level effect, the proposed project will both promote inclusive homeownership for women and financing of SMEs owned or led by women.
Global Bank is incorporated under the laws of Panama and started operations in 1994. The Bank operates under the general license of the Superintendence of Panama, which allows it to carry out its business in Panama and overseas. Global Bank’s subsidiaries include: Global Capital Investment Corporation, Global Capital Corporation, Factor Global, Inc, Global Financial Funds Corporation, Durale Holdings, Global Valores, S. A., Banvivienda Leasing & Factoring, Global Bank Overseas Limited, Banvivienda Assets and Anverli Investment.
Global Bank Corporation y Subsidiarias
Chief Financial Officer
+507 800 0006
Torre Global Bank, Calle 50, Ciudad de Panama.
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/