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The bank affirms that the proposed investment (the "Project") consists of a debt facility for up to US$50 million to expand Banco Itau Argentina S.A. ("Itau Argentina" or the "Bank") small and medium enterprises ("SMEs") lending program (up to US$15 million, with a 5-year tenor), and its sustainable energy finance (“SEF”) portfolio (up to US$35 million, with a 7-year tenor) in Argentina (the “Country”).
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
An extended list of private actors is available in a separate file.
Itau Argentina, a fully-owned subsidiary of Itau Unibanco Holding, started its operations in 1979 and currently is a medium-size bank, holding a 1.4% market share, offering a wide range of products and services to individuals, SMEs, and large corporations.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Itaú Unibanco Holding S.A. | Parent Company | - |
Alupar Investimento | Parent Company | Energy | owns | Caminho do Cafe Transmission Line (288KM) | Client | Energy |
Apollo Global Management | Parent Company | Energy | owns | Caminho do Cafe Transmission Line (288KM) | Client | Energy |
Canada Pension Plan Investment Board | Parent Company | Energy | owns | Porto Primavera Hydroelectric Power Plant (1540MW) Refinancing 2020 | Client | Energy |
Capex | Parent Company | Energy | owns | Capex Argentina Bond Facility 2017 | Client | Energy |
Cargill Inc | Parent Company | Agriculture and Forestry | owns | SJC Bioenergia SA | Client | Agriculture and Forestry |
CEA Centrais Eolicas Assurua | Parent Company | Energy | owns | Xique Xique 2 Wind Farm Power | Client | Energy |
Celeo Redes | Parent Company | Energy | owns | Brilhante Transmissora de Energia Bond Facility | Client | Energy |
Cobra Instalaciones y Servicios | Parent Company | Energy | owns | Brilhante Transmissora de Energia Bond Facility | Client | Energy |
Companhia de Transmissao de Energia Eletrica Paulista | Parent Company | Energy | owns | Companhia de Transmissao de Energia Eletrica Paulista Bond Facility | Client | Energy |
ContourGlobal LP | Parent Company | Energy | owns | Ventos De Santa Joana Ix-Xvi | Client | Energy |
Eletrobras | Parent Company | Energy | owns | Eletrobras Bond Facility 2020 | Client | Energy |
Enel SpA | Parent Company | Energy | owns | Ampla Energia e Servicos SA | Client | Energy |
Energest | Parent Company | Energy | owns | Energest Additional Facility | Client | Energy |
ENEVA | Parent Company | Energy | owns | Eneva Additional Facility II 2020 | Client | Energy |
Evoltz | Parent Company | Energy | owns | Norte Brasil Transmissora de Energia Refinancing | Client | Energy |
Gas Natural Sdg SA | Parent Company | Energy | owns | Sertao I Solar Energy Plant | Client | Energy |
Gas Natural Sdg SA | Parent Company | Energy | owns | Sobral I Solar Energy Plant | Client | Energy |
Grupo Argos SA | Parent Company | Construction | owns | Argos N America Corp | Client | Construction |
Grupo Argos SA | Parent Company | Energy | owns | Celsia SA ESP | Client | Energy |
Grupo Argos SA | Parent Company | Energy | owns | EPSA | Client | Energy |
Inversiones Corso | Parent Company | Energy | owns | Termotasajero Coal Power Plant Unit 2 (161.6MW) Refinancing | Client | Energy |
Itaú Unibanco | Investor | Finance | invests in | Adecoagro SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Adecoagro SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | AES Argentina | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | AES Gener SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | AES Tiete Energia SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Agricola del Chira SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Archer Daniels Midland Co | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Archer Daniels Midland Co | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Arcor SAIC | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Arcor SAIC | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Argos N America Corp | Client | Construction |
Itaú Unibanco | Investor | Finance | invests in | Asociados Don Mario SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Asociados Don Mario SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Blau Farmaceutica SA | Client | Education and Health |
Itaú Unibanco | Investor | Finance | invests in | Blau Farmaceutica SA | Parent Company | Education and Health |
Itaú Unibanco | Investor | Finance | invests in | BRF SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | BRF SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Cargill Inc | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Cargill Inc | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Caterpillar Inc | Parent Company | Construction |
Itaú Unibanco | Investor | Finance | invests in | Caterpillar Inc | Client | Construction |
Itaú Unibanco | Investor | Finance | invests in | CBL Alimentos SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | CBL Alimentos SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | CEA Centrais Eolicas Assurua | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Cemig Geracao e Transmissao SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | ContourGlobal LP | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Copel Geracao e Transmissao SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | CTEEP-Companhia de Transmissao de Energia Eletrica Paulista | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Enel SpA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Eolica Cabeco Vermelho SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Eolica Pedra Rajada II SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Eolica Pedra Rajada SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | EPM | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Fideicomiso PA La Pintada | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Gas Natural Sdg SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Grupo Argos SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Grupo Argos SA | Parent Company | Construction |
Itaú Unibanco | Investor | Finance | invests in | InterCement Brasil SA | Parent Company | Construction |
Itaú Unibanco | Investor | Finance | invests in | InterCement Brasil SA | Client | Construction |
Itaú Unibanco | Investor | Finance | invests in | Klabin SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Klabin SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Minerva Luxembourg SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Minerva Luxembourg SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Molino Canuelas SACIFIA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Molino Canuelas SACIFIA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Nard Agro | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Nard Agro | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Palmas del Espino SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Petroquimica Comodoro Rivadavia SA | Parent Company | Construction |
Itaú Unibanco | Investor | Finance | invests in | Petroquimica Comodoro Rivadavia SA | Client | Construction |
Itaú Unibanco | Investor | Finance | invests in | Quickfood SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Quickfood SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Renova Energia SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | RHI AG | Client | Construction |
Itaú Unibanco | Investor | Finance | invests in | RHI AG | Parent Company | Construction |
Itaú Unibanco | Investor | Finance | invests in | Rio Corrente SA | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Rio Energy Projetos De Energia | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | SJC Bioenergia SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Suzano Papel e Celulose SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Suzano Papel e Celulose SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Suzano Papel E Celulose Sa (Now 5k4053) | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Suzano Papel E Celulose Sa (Now 5k4053) | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Tereos SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Tereos SA | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Usina Ferrari | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Usina Ferrari | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Usina Itajobi Ltda | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Usina Itajobi Ltda | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Usina Santa Fe S/A | Client | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Usina Santa Fe S/A | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Ventos de Estevao Hldg (VSE) | Parent Company | Energy |
Itaú Unibanco | Investor | Finance | invests in | Vibra Agroindustrial SA | Parent Company | Agriculture and Forestry |
Itaú Unibanco | Investor | Finance | invests in | Vibra Agroindustrial SA | Client | Agriculture and Forestry |
Palmas del Espino SA | Parent Company | Agriculture and Forestry | owns | Agricola del Chira SA | Client | Agriculture and Forestry |
Renova Energia SA | Parent Company | Energy | owns | Brasil PCH SA | Client | Energy |
Rio Energy Projetos De Energia | Parent Company | Energy | owns | Copacabana Geracao E | Client | Energy |
Ventos de Estevao Hldg (VSE) | Parent Company | Energy | owns | Ventos de Santo Estevao | Client | Energy |
Votorantim Group | Parent Company | Energy | owns | Porto Primavera Hydroelectric Power Plant (1540MW) Refinancing 2020 | Client | Energy |
YPF Energia Electrica | Parent Company | Energy | owns | YPF Energia Electrica Bond Facility | Client | Energy |
For inquiries abotut this project, contact:
Banco Itau Argentina S.A.
Santiago Perrone
Head International Finance Institutions
54 11 52733513
santiago.perrone@itaubba.com
Tucuman 1, CABA, Argentina
www.itau.com.ar
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/