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

Countries
  • 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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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
May 15, 2015
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
Integral Sociedad de Ahorro y Crédito
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.28 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)
$ 0.45 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.
Bank Documents
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Jan 15, 2016

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

How it works

How it works