Banco Azul de El Salvador, S.A. (FMO-63977)

Countries
  • El Salvador
Geographic location where the impacts of the investment may be experienced.
Specific Location
San Salvador
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Oct 15, 2024
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
Banco Azul de El Salvador, S.A.
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 Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 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.
Loan Amount (USD)
$ 20.00 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.
Project Cost (USD)
$ 40.00 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 @ FMO website

Updated in EWS Oct 22, 2025

Disclosed by Bank Aug 22, 2024

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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.

According to the FMO, the USD 20 million senior term facility is part of a USD 40 million syndicated transaction and it consists of a small and medium-sized enterprise (SME) tranche (at least 33%), a Green tranche (at least 33% of the facility) and a women-owned SME tranche (at least 33%). The SME tranche will be used to support Banco Azul to grow its SME portfolio, the Green tranche will be on-lend to green projects in line with green lending criteria, aimed at renewable energy and energy efficiency in El Salvador. The female SME tranche is dedicated to financing women-owned SME clients.

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.

According to the FMO, Banco Azul de El Salvador, S.A. (“Banco Azul”, "the Bank") is a medium-sized commercial bank in El Salvador. The Bank has total assets of USD 867.2 million and a loan portfolio of USD 610.4 million as of December 2023.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Banco Azul de El Salvador, S.A. Undisclosed -

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.

ACCESO A LA INFORMACIÓN

Como parte de la divulgación ex ante de FMO (divulgación de transacciones antes de la contratación), puede enviar solicitudes o preguntas para obtener información adicional a: divorcio@fmo.nl

MECANISMO DE RENDICIÓN DE CUENTAS DEL FMO

Las comunidades que consideren que se verán afectadas negativamente por un proyecto financiado por el Banco de Desarrollo Holandés (FMO) pueden presentar una queja ante el Mecanismo Independiente de Quejas, que es el mecanismo de rendición de cuentas independientes conjunto del Banco de Desarrollo Holandés (FMO). ) y la Corporación Alemana de Inversiones (KfW). Las quejas se pueden presentar por escrito, por correo electrónico, correo postal o en línea. La queja se puede presentar en inglés o en cualquier otro idioma del reclamante. El Mecanismo Independiente de Quejas está compuesto por un Panel de Expertos Independientes de tres miembros y puede proporcionar resolución de problemas, revisión de cumplimiento o ambos, en cualquier orden. Puede encontrar información adicional sobre este mecanismo de rendición de cuentas, incluida una guía y una plantilla para presentar una queja, en: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works