BANCO BAC SAN JOSE S.A. (FMO-46806)

Countries
  • Costa Rica
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.
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
Jun 13, 2016
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 BAC San Jose 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)
$ 5.00 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)
$ 20.00 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 @ FMO website

Updated in EWS Jun 26, 2018


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Project Description

FROM FMO:

This Green Line loan project will enable financing of projects including i.e. installation of solar panels at households or businesses, construction of 'green' buildings (EDGE certified) and replacement of inefficient agricultural equipment.

Banco BAC San Jose S.A. (BAC SJ) is the largest privately owned bank in Costa Rica and is part of the Central American BAC Credomatic Group, owned by the Colombian Grupo Aval conglomerate. BAC SJ is a long-standing client of FMO and considered as a strategic partner for innovation in the Central American region.

This Green Line supports the development of green financial products in Costa Rica which contributes to FMO's strategic goal to halve its footprint by reducing GHG emissions.

Investment Description
  • Netherlands Development Finance Company (FMO)

The USD 5 million senior term facility is a Green Line which BAC SJ will use to on-lend to green projects in line with FMO's green lending criteria, focused on renewable energy and energy efficiency.

Contact Information

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

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