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

  • El Salvador
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Sep 5, 2019
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.
Government of El Salvador
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 12.50 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 @ IADB website

Updated in EWS Apr 2, 2020

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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.

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
Here you can find a list of individual development financial institutions that finance the project.

China Co-Financing Fund for Latin America

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.


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).

How it works

How it works