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.
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.
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.
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