Scotiabank Let's PYME Digital Financial Services for SMEs (IADB-ES-L1140)

  • El Salvador
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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
Sep 5, 2019
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.
Government of El Salvador
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Project Cost (USD)
$ 12.50 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 @ IADB website

Updated in EWS Apr 2, 2020

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Project Description

This is a joint project that IDB Invest is partnering with IDB Lab. IDB Invest will take a role to provide the long-term financing and IDB Lab will collaborate with the Bank to develop a digital platform for SMEs called "Let's PYME". This app will offer a dynamic menu of financial and non-financial services focused on the dynamic and evolving needs of the Salvadorian SMEs to help them enhance their competitive edge from a commercial, managerial and technological perspective, simply by formalizing their relationship with the Bank. This app will offer : i) better financial products, as a result of a feedback mechanism focused on the SMEs transactional data, thereby better tailoring credit products, payments, savings, and liquidity management, and ii) strategic support with technological infrastructure and support that will allow SMEs to even digital playing field, and consequently inserting them into partnerships with customers and companies in their respective value chains. This menu will be powered by information captured by data analytics (big data, artificial intelligence systems), as part of the Scotiabank's "Fabrica Digital". Specialized teams that embrace the Agile and Design Thinking methodology will be in charge of surveying data analytics and constant upgrade the Bank's products and services for Let's Pyme.

Investment Description
  • Inter-American Development Bank (IADB)

China Co-Financing Fund for Latin America

Contact Information


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 You can learn more about the MICI and how to file a complaint at,1752.html (in English) or,1752.html (Spanish).