Facilidad EcoMicro: Apoyo Integral (IADB-ES-X1008)

Countries
  • 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
Active
Bank Risk Rating
C
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
May 15, 2015
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
Integral Sociedad de Ahorro y Crédito
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.28 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)
$ 0.45 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 Jun 22, 2017

Disclosed by Bank Jan 15, 2016


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Project Description
The IDB's Nordic Development Fund will provide technical assistance to the microfinance institution Integral Sociedad de Ahorro y Crédito to develop and test through a pilot a green financial product that allows its microentrepreneur clients with expanded accumulation. It will also allow small and medium entrepreneurs, as well as low income households, to access energy efficiency or renewable energy equipment, while being profitable and sustainable for Integral itself. As a complement to the development of the green financial product and with the purpose of ensuring its successful commercialization, this project includes a component that will allow environmental awareness within Integral Support, which is expected to generate momentum for the commercialization of the green financial product. It also integrates a component that will allow the institution to know the climate vulnerability of its portfolio and with this information generate tools for its proper management. These components are expected to contribute to the successful commercialization and subsequent scaling of the green financial product. The project aims to demonstrate that the provision of green financial products and services for the acquisition of clean technology can be profitable and sustainable, and that microfinance institutions are appropriate vehicles to bring green financing to micro, small, and medium sized enterprises.
Investment Description
  • Inter-American Development Bank (IADB)
The Technical Cooperation project has a total cost of US $ 447,390. The Nordic Development Fund will contribute US $ 280,000 (63%) of non-reimbursable resources, and the country counterpart will contribute US $ 167,390 (37%)
Contact Information
ACCOUNTABILITY MECHANISM OF IADB 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).