SUDAMERIS BANK S.A.E.C.A. (FMO-53900)

Countries
  • Paraguay
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
A
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
Sep 19, 2018
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
Sudameris
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 Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS May 20, 2021

Disclosed by Bank May 20, 2021


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Project Description

The bank is an important sparring partner for FMO in the Environmental and Social roundtable for banks in Paraguay. Here, important Environmental and Social aspects related to Paraguay are being discussed, for which Sudameris has developed the Environmental and Social guide for the cattle sector. We deem it important to remain involved in the Financial Sector in Paraguay in order to keep on improving Environmental and Social practices in Paraguay.

Investment Description
  • Netherlands Development Finance Company (FMO)

Through this 7.5% stake we want to continue our relationship with the bank in order to further develop Environmental and Social practices in Paraguay and support Sudameris in the organic growth of the loan portfolio.

Financial Intermediary
Private Actors
Private Actors Description

Sudameris is a mid-sized bank (#5 in Total Assets, and market share of ~7%) active in Paraguay, serving the corporate, Small and Medium Sized Enterprises, and retail segments.  Sudameris, a category A risk client, is one of the first banks in Paraguay to have implemented an environmental and social management system. The bank also played a key role in the development of the sustainability sector initiative, 'Mesa de Finanzas Sostenibles', or Sustainable Finance Round Table. Through these action Sudameris has set an example for better environmental and social practices in the financial sector and towards clients and society more broadly.

Contact Information

No contact information provided at the time of disclosure. 

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