Promoting Energy Savings Insurance (ESI) for Small and Medium Enterprise (SMEs) (IADB-NI-T1234)

Countries
  • Nicaragua
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
Nov 15, 2016
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
Produzcamos Bank
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)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.53 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)
$ 0.63 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 Aug 4, 2017

Disclosed by Bank Jun 30, 2017


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Project Description
From the IADB: The Promoting Energy Savings Insurance project will finance preparatory activities for establishment of an Energy Savings Insurance (ESI) scheme in Nicaragua with the objective of promoting access to finance for small and medium sized enterprises (SMEs) intending to invest in energy efficiency (EE) upgrades and technologies. The Project aims to support these investments by supporting a national development bank in Nicaragua (the Produzcamos Bank) in structuring and deploying an integral strategy that combines financial and non-financial instruments needed to address the different financial and non-financial barriers that prevent private investments in EE projects.
Investment Description
  • Inter-American Development Bank (IADB)
This non-reimbursable Technical Cooperation project has a total cost of USD 630,000, of which USD 530,000 will be funded by the IADB and USD 100,000 will come from country counterpart financing.
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).