Conditional Credit Line for Investment Projects (IADB-ME-X1021)

Countries
  • Mexico
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
Approved
Bank Risk Rating
U
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
Oct 31, 2014
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
BANSEFI
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)
$ 300.00 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)
$ 300.00 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 @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Mar 29, 2016


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Project Description
The objective of the Conditional Credit Line for Investment Projects (CCLIP) is to support Mexico in its efforts to improve access to financing in the rural sector. Its specific objective is to increase investments in the rural sector through the support of Fideicomisos Instituidos en Relación con la Agricultura (FIRA) via dedicated credit lines.
Investment Description
  • Inter-American Development Bank (IADB)
In order to achieve the objective of the program, the Inter-American Development Bank will subscribe a USD 300,000,000 loan with Banco del Ahorro Nacional y Servicios Financieros, Sociedad Nacional de Crédito (BANSEFI) as a borrower, so that it can fund FIRA. In turn, FIRA will channel such resources to its eligible Financial Intermediaries, in order to increase the supply of credit in terms appropriate to eligible productive units (companies in the agroindustrial, trade and related services with the rural environment) interested in investing in eligible projects (eg. technology acquisition and fixed capital investment) to increase their productivity.
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).