BANCO SOLIDARIO S.A. BANCOSOL (FMO-44202)

Countries
  • Bolivia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
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
Oct 26, 2017
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 Solidario 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)
$ 3.09 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)
$ 3.09 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)
$ 3.09 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 @ FMO website

Updated in EWS Jun 24, 2018


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Project Description

Through this investment, the bank affirms that FMO facilitates BancoSol's growth and enables the bank to provide financial services to it's 250,000 clients. Furthermore, FMO will support the management team in their quest to innovate in the way they reach out to clients, in order to become more efficient in a competitive market and challenging regulatory landscape. The bank affirms that their vision behind this to provide high quality financial services to the poor.

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Banco Solidario S.A. ("BancoSol") is the largest MFI in Bolivia and has grown to be one of the top microfinance banks in Latin America over the past 20 years. The bank has been a client of FMO since 1996 and FMO has provided several loans since then. In June 2015, FMO purchased 28% of the shares of BancoSol together with Triodos and Womens World Banking, whereby FMO's shareholding is 14%.

Contact Information

FMO
The Netherlands
+31 70 314 96 96
info@fmo.nl

Anna van Saksenlaan 71
2593 HW, The Hague
The Netherlands

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism