BI Climate & SME Loan 2023 (IFC-48228)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Guatemala
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ciudad Guatemala
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
  • International Finance Corporation (IFC)
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
U
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
Nov 15, 2023
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 INDUSTRIAL SA
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)
$ 220.00 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)
$ 220.00 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 @ IFC website

Updated in EWS Oct 15, 2023

Disclosed by Bank Oct 12, 2023

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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.

 El proyecto propuesto es un paquete de financiamiento de hasta US$220 millones para el Banco Industrial SA (“Banco Industrial” o el “Banco”) en Guatemala, que consiste en: (i) un préstamo senior no garantizado de hasta US$173,64 millones por cuenta propia de IFC (Préstamo A de IFC), parte del cual se beneficia de (ii) una movilización no financiada de hasta US$61,81 millones a través del programa MCCP FIG, en el que IFC transferirá el riesgo crediticio a compañías de seguros, lo que resulta en una exposición neta por cuenta propia de IFC de no más de US$111,83 millones, y (iii) un préstamo fiduciario de hasta US$46,36 millones de IFC actuando en su calidad de entidad implementadora del Programa de Cartera de Co-Préstamo Administrado (MCPP). Los fondos del préstamo se utilizarán para financiar el crecimiento de las pequeñas y medianas empresas (PYME) y los activos relacionados con el clima del Banco, que se espera que representen al menos el 40% de los fondos (el Proyecto). El préstamo senior no garantizado de la IFC A propuesto tendrá un vencimiento de hasta 4 años, con un período de gracia de 1 año.                                                   

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Banco Industrial Guatemala Client Finance

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

Puede enviar una solicitud de divulgación de información en: https://disclosures.ifc.org/#/inquiries

Si cree que su solicitud de información de IFC ha sido denegada sin razón, o que esta Política se ha interpretado incorrectamente, puede presentar una queja en el enlace anterior al Asesor de Políticas de Acceso a la Información de IFC, quien reporta directamente al Vicepresidente Ejecutivo. . del CFI.

MECANISMO DE RENDICIÓN DE CUENTAS DE IFC/MIGA

El Ombudsman Asesor en Cumplimiento (CAO) es el mecanismo de queja independiente y el organismo de investigación para las personas que creen que es probable que se vean, o hayan sido, afectados negativamente por un proyecto financiado por la IFC o el MIGA. Si presenta una queja ante la CAO, ellos pueden ayudar a resolver una disputa con la empresa y/o investigar para evaluar si la IFC está siguiendo sus propias políticas y procedimientos para prevenir daños a las personas o al medio ambiente. Si desea presentar una queja electrónicamente, puede enviar un correo electrónico a la CAO a CAO@worldbankgroup.org. Puede obtener más información sobre la CAO y cómo presentar una queja en http://www.cao-ombudsman.org.

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