Banpro (IIC-11877-02)

Countries
  • Nicaragua
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 24, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Banco de la Produccion S.A. ("Banpro")
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
  • Construction
  • Energy
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 21.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Sep 18, 2018

Disclosed by Bank Feb 28, 2018


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Project Description

This project provides financing to Banpro to support the growth of Banpro's "Green Financing" portfolio, and provide expanded access to finance for its corporate, small and medium-sized enterprises (SMEs) and small agricultural producers for projects involving renewable energy technologies, energy efficiency, water and irrigation systems and other climate mitigation measures for the agriculture sector. 

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

Banpro is the largest bank in Nicaragua, as measured by total assets, loan portfolio and deposits. The Bank offers commercial, consumer and mortgage loans, as well as foreign exchange and trade finance services, serving primarily corporate clients across industries, with a focus on the agriculture, industrial, commercial, construction, and tourism sectors.


Contact Information

Client contact name: Román Porras
Title: Corporate Risk Manager
Phone number: +50 (5) 2255-9595, ext. 33141
E-mail: romanporras@banpro.com.ni

ACCOUNTABILITY MECHANISM OF IIC
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).