DFP Credicorp (IFC-46081)

Countries
  • Colombia
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
U
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, 2022
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
CREDICORP CAPITAL COLOMBIA SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 50.00 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 May 6, 2022

Disclosed by Bank May 2, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 transaction consists of an investment of up to US$50 million equivalent in COP or up to 15%   of the total commitments in FCP CC Deuda Privada I (FCP Credicorp or the Fund), a debt fund to be established in Colombia by Credicorp Capital Colombia S.A. (Credicorp Capital or the GP). The Fund will provide structured long-term debt to performing medium and larger size enterprises.                                                 

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

IFC anticipates that the Project will improve the credit available for medium and larger size enterprises to support their growth. The longer-tenors and customized, flexible forms of finance will facilitate the borrowers’ growth. Beyond the project-level impact, IFC anticipates that the project will promote competitiveness in the Colombian market by helping develop the debt fund market in Colombia. This will be achieved through the demonstration and competition channels.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
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.

Credicorp Capital Colombia S.A. is a broker dealer which is owned by Credicorp ?Holding Colombia S.A.S., a holding company, which is part of the Group Credicorp among others leading corporations in Latin America: Credicorp Capital Peru (formerly, BCP Capital), Credicorp Capital Chile (formerly, IM Trust). Through its regional presence in Latin America, Credicorp Capital manages more than US$ 2 billion in Alternative assets, while in Colombia, over the past +13 years, the company has managed +9 Economic Rights funds with AUM of US$ 206 million. Additionally, the company has an advisory services arm which focuses on corporate finance, wealth and asset management, and capital markets.


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.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

How it works

How it works