DCM FDC Social DPR Notes (IFC-48518)

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
  • 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
Proposed
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
Jan 26, 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
Federacion de Cajas de Credito y de Bancos de los Trabajadores SC de RL
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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)
$ 80.00 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 Jan 14, 2024

Disclosed by Bank Dec 23, 2023

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 parte de un paquete de financiamiento para la Federación de Cajas de Crédito y de Bancos de los Trabajadores, SC de RL de CV (Fedecredito o FDC), un cliente existente de IFC. El paquete de financiamiento adoptará la forma de una emisión de bonos con Derechos de Pagos Diversificados (“DPR”) por hasta USD 80 millones, que será cofinanciada por IFC y otros tres coinversores. Se espera que la IFC financie hasta US$30 millones por cuenta propia (“el Proyecto”). Los ingresos se utilizarán para proporcionar acceso a financiación a micro y pequeñas empresas (MYPE), MyPE propiedad de mujeres y préstamos para vivienda y mejoras del hogar para mujeres que se alcanzarán a través de las instituciones financieras (IM) miembros de FDC. Las notas del DPR se estructurarán como una emisión de notas sociales, que cumplirá con los principios de bonos de la Asociación Internacional del Mercado de Capitales (ICMA) para estos bonos temáticos.

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
- - - - Fedecredito de C.V. 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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