BANPAIS (IIC-HO3741A-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Honduras
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
May 30, 2017
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 del Pais, S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 8.00 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)
$ 12.00 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 20, 2018

Disclosed by Bank Apr 25, 2017


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Project Description

According to IIC website, the Project consists in providing an Unsecured Senior Loan of up to US$12 million to Banco del País S.A. to increase the small and medium-sized enterprises portfolio. The tenor is up to five years, which represents a financial additionality to Banpaís as it mostly operates with short-term funding. Of the US$12 million, the Inter-American Investment Corporation (“IIC”) will contribute US$8 million from its own account, and will bring potentially in an additional US$4 million through the China Co-Financing Fund.

In addition, it is expected that this Project will be complemented by an Advisory Services (AS) component with the GREENPYME program, which objective is to provide: (i) training workshops for Banpaís ’clients on energy efficiency, renewable energy and water management; and (ii) an online training course for Banpaís employees to strengthen the internal capacity of analysis of green projects, and to make them aware of the different existing technologies and the risks associated with this type of projects. The AS will also support Banpaí´s clients by carrying out energy audits and water management reports.

Investment Description
  • IDB Invest

The project consists in providing an Unsecured Senior Loan of up to US$12 million to Banco del Pais S.A. ("Banpais" or "the Bank"). Of the US$12 million, the Inter-American Investment Corporation (“IIC”) will contribute US$8 million from its own account, and will bring potentially in an additional US$4 million through the China Co-Financing Fund.

Private Actors

Banco del Pais, S.A. operates as a national commercial bank. The company was founded in 1992 and is based in San Pedro Sula, Honduras. As of December 18, 2007, Banco del Pais, S.A. operates as a subsidiary of Banco Industrial, S.A.

Contact Information

No contact information provided at the time of disclosure. 

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).