WHO IS OUR CLIENT
Banco Internacional is part of Grupo Fierro, a spanish-owned conglomerate comprising among others our existing client Banbif in Peru. Banco Internacional was established in 1973 and currently has total assets of USD 2.6 billion and a loan portfolio of USD 1.6 billion, ranking 5th in the Ecuadorian banking system with a market share of 9 percent as of January 2016. Banco Internacional was the first Ecuadorian bank to join the SWIFT network in 1981. Banco Internacional is recognized as a safe solid bank focused on corporates and leader in international trade finance. In the challenging current economic environment, Banco Internacional remains a top performer of the Ecuadorian banking system in terms of portfolio quality, efficiency and growth.
FMO invests in the B-tranche of a syndicated transaction of USD 48 million. IFC is in the lead and FMO participates with USD 20 million. Other commercial parties participate with the remaining USD 8 million.
WHY WE FUND THIS PROJECT
In an environment of economic deceleration with limited liquidity, FMO will support the Ecuadorian private sector providing countercyclical liquidity through Banco Internacional.
+31 70 314 96 96
Anna van Saksenlaan 71
2593 HW, The Hague
+27 11 507 2500
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa
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/