XM-DAC-903-SII-32254
International Finance Corporation
Edyficar IV
The proposed transaction aims to support Financiera Edyficar (Edyficar), a microfinance provider in Peru, through a senior loan, which would facilitate resources for the Companys microfinance portfolio expansion in rural regions of Peru. In addition, the Project would support the growth strategy of a key player in the microfinance sector with strong demonstration effect in Peru. The Project would aim to achieve various objectives: (i) provide funding for Edyficars microfinance rural portfolio growth; (ii) diversify the Companys funding sources by making available funding from an international financial institution; and (iii) enable the Company to reduce its foreign exchange mismatch by providing local currency financing.
IFC''s long-term financing is expected to bring high development impact by enhancing Edyficar''s capacity to support productive micro enterprises in rural regions, resulting in higher growth, employment generation and poverty reduction in rural regions of Peru.
Empresa Financiera Edyficar S.A
Mariela Ramirez CFO Tel: (511) 3195555 Av. Paseo de la Republica 3717 Urb. Limatambo San Isidro, Lima - Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Edyficars headquarters are based in Lima. Edyficars distribution network is extensive, with more than 163 branches (129 branches outside Lima), expanding throughout 20 of the total 24 regions of Peru. Investments will be made throughout the country, mainly outside Lima.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AC - Commercial Banking - Microfinance
Total: $40.00 million
40000000.00
40000000.00
Empresa Financiera Edyficar S.A
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32254/edyficar-iv
XM-DAC-903-SII-32273
International Finance Corporation
Confianza II
The proposed transaction aims to support Financiera Confianza (Confianza), a microfinance provider in Peru, through a senior loan that would facilitate resources for the Companys microfinance portfolio expansion in Peru. The Project aims to: (i) provide funding for Confianzas microfinance lending activity; (ii) diversify the Companys funding sources through long term funding in local currency; and (iii) enable the Company to comply with higher regulatory liquidity levels that will be effective from January, 2014.
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
FINANCIERA CONFIANZA S.A.A.
Ana Cecilia Akamine CFO Tel: (511) 3161106 Av. Javier Prado Este 4487 San Isidro, Lima - Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Confianzas headquarters are based in Lima. Confianzas distribution network is extensive, with more than 165 branches (138 branches outside Lima), and presence throughout Perus 24 regions. Expansion will take place throughout the country, mainly outside Lima.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $17.75 million
17750000.00
17750000.00
FINANCIERA CONFIANZA S.A.A.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32273/confianza-ii
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
Indicator
Access to Finance: Outstanding Microfinance Portfolio (#)
Outstanding Portfolio (#)
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
Indicator
Access to Finance: Outstanding Microfinance Portfolio ($)
Outstanding Portfolio ($)
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
IFC''s long-term financing is expected to bring high development impact by enhancing Confianza''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction in Peru.
XM-DAC-903-SII-32354
International Finance Corporation
BIF Equity Project
The proposed project consists of an equity investment of up to US$50 million to Banco Interamericano de Finanzas (BanBif or the Bank). The Project is expected to support BanBif accelerate the growth of its loan portfolio; while at the same time strengthen its capital base.
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
BANCO INTERAMERICANO DE FINANZAS SA
Mr. Javier Arroyo Banco Interamericano de Finanzas Av Rivera Navarrete 600, San Isidro Lima, Peru Telephone: (511) 6133000 mailto:jarroyo@banbif.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BanBif is headquartered in Lima, Peru and has 73 branches and 83 ATMs mainly concentrated in Lima with an expansion plan throughout the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AA - Commercial Banking - General
Total: $50.00 million
50000000.00
50000000.00
BANCO INTERAMERICANO DE FINANZAS SA
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32354/bif-equity-project
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
Indicator
Access to Financial Services: Branches, including Frontier or Rural Areas
Branches in Frontier or Rural Areas-#
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
Indicator
Access to Financial Services: Branches, including Frontier or Rural Areas
Branches-#
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
The development impact of IFC''s equity injection in BanBif is expected to be high given that: - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support Company''s adaptation to the Basel III capital standards, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
XM-DAC-903-SII-33005
International Finance Corporation
Callao Muelle Norte
The Project represents stage 1 and stage 2 investments required under the Concession Agreement signed between APM Terminals Callao (the Company or APMTC) and the Government of Peru (GOP), in order to develop the existing North Dock (the Terminal) in the Port of Callao. The Project is designed to (i) modernize and expand the Terminals container handling facilities to world class standards, and (ii) improve the efficiency of the Terminals non container handling facilities. It includes demolishing and rebuilding the Terminals main container and grain handling berths, constructing a new container berth to establish a new 660 meter container quay, installing new container handling equipment, and developing the container yard and supporting infrastructure. Upon completion, the Terminal is expected to have an annual capacity of 1.2 million twenty-foot equivalent units (TEUs).
The Project will support GOP''s privatization efforts in the port sector, contributing with the development of the North Dock facility in the port of Callao, the major port of the country. As such, the Project will support Peru''s competitiveness and indirectly drive trade growth by increasing container cargo capacity and improving efficiency levels to better serve exports and imports in one of the country''s key ports. The Project will help improving efficiency and productivity as well as increasing competition, benefitting shippers, shipping lines and consumers alike. In addition, the Project will benefit the GOP with royalties and tax payments which will help to free up the fiscal space necessary for Government priorities including education and health. The Project is also expected to create new employment opportunities.
APM Terminals Callao S.A.
Henrik Kristensen Managing Director APMTC Av. Contralmirante Raygada 111. Callao Perú +511 200 8800
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Henrik Kristensen Managing Director APMTC Av. Contralmirante Raygada 111. Callao Perú +511 200 8800
Peru
The Project is part of the Callao Port, located in the city of Callao (next to Lima), approximately midway on the 2,400 km long Peruvian coastline.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
E-BB - Port and Harbor Operations
Total: $75.00 million
75000000.00
75000000.00
APM Terminals Callao S.A.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33005/callao-muelle-norte
XM-DAC-903-SII-33332
International Finance Corporation
Education Project - El Comercio
IFC is considering supporting Proyectos Educativos Integrales del Peru S.A.C. (PEIP or the Company), a company operating in the Peruvian education sector. The proceeds of the investment will be used to support PEIPs expansion plans in the sector, which include expansion plans across all market segments: technical training, university education and K-12 schools.
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
PROYECTOS EDUCATIVOS INTEGRALES DEL PERU S.A.C.
Mirian Lau Gerente General IPAL Av. Uruguay 514 Lima Peru Telephone: (51-1) 411-5888 Julio Noriega Gerente Central de Estrategia y Desarrollo de Negocios Grupo El Comercio Jr. Antonio Miro Quesada 300 Lima Peru Telephone: (51-1) 426-4676
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Grupo El Comercio Jr. Antonio Miro Quesada 300 Lima Peru Telephone: (51-1) 426-4676
Peru
The Companys operations and headquarters are located in Lima, Peru. The Project could be developed throughout the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
T-AB - Colleges, Universities, and Professional Schools
Total: $25.00 million
25000000.00
25000000.00
PROYECTOS EDUCATIVOS INTEGRALES DEL PERU S.A.C.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33332/education-project-el-comercio
Development Results
Development Result Description
Indicator
Organizational capacity and Management Programs(%)
Organizational capacity and Management Programs(%)
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
Indicator
Occupational Health and Safety(%)
Occupational Health and Safety(%)
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
Indicator
Affected communities protection(%)
Affected communities protection(%)
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
Indicator
Education: Students Enrolled (#) and Graduated (#)
Graduates (#)
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
Indicator
Education: Students Enrolled (#) and Graduated (#)
Enrollment (#)
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
The project is expected to (i) expand access and quality of education to students in K-12 and tertiary level; (ii) provide employment opportunities for local teachers and skilled administrative professionals; and (iii) set new local standards, by demonstrating the viability for privately run education institutions to provide good quality education and employability
XM-DAC-903-SII-34799
International Finance Corporation
BanBif Subdebt
The proposed project consists of an up to US$25 million subordinated loan to Banco Interamericano de Finanzas (BanBif or the Bank) to be entirely funded by the IFCs Capitalization Funds Subordinated Debt Fund (Cap Fund) through the AMC Management Company AMC. The Project is expected to support BanBifs solvency base in light of the rapid growth achieved during the last years and which is likely to remain during the following years.
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
BANCO INTERAMERICANO DE FINANZAS SA
Mr. Javier Arroyo Banco Interamericano de Finanzas Av Rivera Navarrete 600, San Isidro Lima, Peru Telephone: (511) 6133000 mailto:jarroyo@banbif.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BanBif is headquartered in Lima, Peru, operating though a branch network composed by 85 offices concentrated in Lima (63%) but with relevant presence in the other regions of the Country including, among others, Piura, Callao, Arequipa and Cusco.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AH - Commercial Banking - SME Finance
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34799/banbif-subdebt
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
Indicator
Access to Financial Services: Branches, including Frontier or Rural Areas
Branches in Frontier or Rural Areas-#
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
Indicator
Access to Financial Services: Branches, including Frontier or Rural Areas
Branches-#
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
The development impact of the proposed transaction is expected to be high given that: - It will support expand access to finance for SMEs in Peru as BanBif''s strategy contemplates an important focus on the SME segment. - It will support SMEs and employment generation, thus, helping address the inequality that exists within the different segments of society. - It will support the Company''s adaptation to the new capital requirements being implemented for Peru''s financial sector, thus, helping also to strengthen the soundness of Peru''s financial system. - It would help to increase the financial choices for companies and individuals, by supporting a Tier II bank in a very concentrated banking sector, with the top 4 banks representing over 80% of the banking sector''s loan portfolio.
XM-DAC-903-SII-35369
International Finance Corporation
MAV Credit Peru
The proposed project would involve supporting HMC Capital Peru S.A. (the Fund Manager) in raising and structuring HMC Capital High Yield Peru (the Fund or Project), a credit opportunity fund (COF), in IFCs capacity as a potential investor in the Fund. This capital market vehicle would mobilize local institutional investors to provide financing for local companies through capital markets issuances. As part of IFCs Capital Market Development Strategy, the project has the potential to enhance the development of the local debt capital market in Peru by channeling capital flows from local institutional investors into public credit markets for medium-size companies. The Fund will invest primarily in bonds listed on the Peruvian alternative securities exchange (Mercado Alternativo de Valores MAV), a platform focused on small- and medium-size companies. The project is expected to enhance capital market liquidity, extending available credit tenors, and supporting further primary issuance of new bonds as well as its secondary market in the country.
The proposed Project is expected to have the following development impacts: - Increase the Access to finance: The project will increase the access to finance to the underserved mid-size corporate sector in Peru. The project is also expected to expand IFC current efforts in this market segment by making medium term funding available to mid-size corporates. - Job creation: The fund will provide much needed funding to the mid-size corporate sector, key employer in the Peruvian economy. Thus, supporting the fund in turn supports the primary drivers of job creation and growth in Peru - Local Capital Markets Development: The project will help to develop the local Peruvian debt capital market for mid-size firms. The Fund Manager aims to foster the development of this segment of the local debt capital market, improve best practices, and overall raise the profile of this asset class in Peru.
FONDO HMC CAPITAL HIGH YIELD PERU FI
Mr. Daniel Dancourt Managing Director Business Development HMC Capital Peru S.A. Av. Manuel Olguin 335, Edificio Link Tower, Off. 1108, Santiago de Surco, Lima, Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
HMC Capital Peru S.A. is headquartered in Lima, Peru. The Fund would invest primarily in bonds issued by Peruvian mid-size companies in different geographic and economic sectors across the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-IE - Portfolio Management Company
Total: $15.00 million
15000000.00
15000000.00
FONDO HMC CAPITAL HIGH YIELD PERU FI
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35369/mav-credit-peru
XM-DAC-903-SII-35873
International Finance Corporation
Tinka Project
Tinka Resources Corp. (Tinka or the Company) is a junior mineral exploration company registered in British Columbia, Canada and listed on the Toronto Stock Exchange (Symbol: TK) The Company is focused on the exploration and development of its wholly-owned Ayawilca-Colquipucro project, (the Project) located in the department of Pasco in the central Andes of Peru. The Project is located in a prolific mining district where producing mines like Cerro de Pasco (Volcan Cia Minera), Antamina (BHP-Glencore-Teck) and Colquijirca (El Brocal) have been operating for decades. The Project is comprised of two deposits: Ayawilca (zinc) and Colquipucro (silver), developed under the same mineral concession. These deposits are located two kilometers apart at an elevation ranging from 3,300 to 4,600 meters above sea level. In addition, Tinka owns other mineral concessions in Peru, notably Rurimarac, a project which has been optioned to Mariana Resources. IFCs investment will support the drilling program in the Ayawilca-Colquipucro project and also be used for geological and initial engineering studies in preparation for a Preliminary Economic Assessment (PEA).
IFC''s investment will be used to fund the completion of a drilling program and initial studies in the Ayawilca-Colquipucro projects towards the completion of a Preliminary Economic Assessment. Generally, projects at pre-development stage have limited development impact. Yet even at such stage, Tinka has brought tangible benefits for the surrounding communities by providing direct employment for the local population, as well as investing in social development programs in favor of the communities living in the Department of Pasco, a poor rural area in the highland Andes in Peru. Should exploration lead to mine development and production, the developmental impacts will be notable. Key expected benefits during mine construction and operation will include revenues to the national government through royalties and taxes, foreign currency from export revenues, significant direct and indirect employment, and enhanced social development programs.
Tinka Resources Limited
Mr. Graham Carman Chief Executive Officer and Director Tinka Resources Limited. 1305-1090 West Georgia Street Vancouver, BC V6E 3V7 Canada Phone: 1 (604) 699 0202 Fax: +1 (604) 683 1585 mailto:gcarman@tinkaresources.com Mrs. Mariana Bermudez Corporate Secretary Tinka Resources Limited. 1305-1090 West Georgia Street Vancouver, BC V6E 3V7 Canada Phone: 1 (604) 699 0202 Fax: +1 (604) 683 1585 mailto:mbermudez@chasemgt.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The Project is located, in the high Andes of central Peru, in the department of Pasco 40 km north of the city named Cerro de Pasco. The main access to the Project is from Lima via a 250 km journey via the Central Highway to Cerro de Pasco and then a further 40 kilometers northward to the town of Yanahuanca, located 25 km away from the Project. The concession package comprises of fifty contiguous concessions covering 10,500 hectares, which were awarded directly by the Peruvian Ministry of Mines in 2005.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
B-BB - Zinc
Total: $10.00 million
10000000.00
10000000.00
Tinka Resources Limited
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35873/tinka-project
XM-DAC-903-SII-39427
International Finance Corporation
LLP Peru Project
IFC is considering providing an A loan and B Loan financing package of up to US$28 million to support LatAm Logistic Properties LLC. (LLP or the Sponsor), a Latin American commercial real estate (RE) investment and development company, in developing its first logistic warehouse park in Peru. Phase I of LLPs development plans in Peru entails the development of 65,578 square meters of warehouse space (the Project), distrusted among 3 buildings which will be located in Lurin, Lima. The Project will be the first true master planned logistics park in the market designed to international standards and focused towards third-party logistic operators, consumer goods companies and retailers that demand more efficient and less costly spaces.
- Infrastructure development: LLP will help address the existing shortages of quality industrial and logistics property infrastructure in Lima, where there is no supply of efficient, Class-A buildings to service multinationals and local equivalents;
- Business efficiencies and linkages: The modern, high-quality infrastructure developed by LLP will result in improved efficiencies and reduced operational costs for local businesses and supply chains. Class A developments can be significantly more efficient with lower operating costs than existing properties in these markets, given some of their characteristics. These include: higher ceilings, increased floor load capacity, column-free span areas, intensive docking ports with levelers for all types of trucks, and ample maneuvering yards for large vehicles. LLP estimates that in Lima the improved cost efficiency of its properties with respect to those of its competitors is at least 100% vs Class C properties and between 30% to 40% for the best Class B properties;
- Economic growth, job creation and supply chain development: The Project will drive the creation of direct jobs during both construction and operations, also supporting a significant number of indirect jobs through the supply chains of its tenants. The sourcing of construction inputs and related services during the subsequent development phases will foster the development of local SMEs and support local suppliers; and
- Improved standards: LLP is also strengthening its ESG practices contributing to the overall improvement of quality standards in Peru, including E&S and life and fire safety standards as well as in terms of building construction methods and energy efficiency features.
LATAM LOGISTIC PER PROPCO LURIN I S.R.L.
Latam Logistic Properties Alvaro Chinchayán Market Leader +511-7108700 alvaro@latamlp.com Av. Juan de Arona 151 oficina 701B San Isidro, Lima - Perú http://www.latamlogisticproperties.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Contact Person: Alvaro Chinchayán Company Name: Latam Logistic Properties Address: Av. Juan de Arona 151 oficina 701B San Isidro, Lima - Perú Email: alvaro@latamlp.com Phone: +511-7108700 Facsimile: +511-710-8700
Peru
The Project is located in the Lurin district in the department of Lima, which has experienced significant growth in logistics operations given the proximity to the city of Lima.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
D-AA - Construction and Real Estate
Total: $23.50 million
23500000.00
23500000.00
LATAM LOGISTIC PER PROPCO LURIN I S.R.L.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39427/llp-peru-project
XM-DAC-903-SII-37768
International Finance Corporation
Acceso Credito I
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Financing to Edpyme Acceso Crediticio S.A. (Acceso or the Company), to support the Company as it continues serving and growing its existing client base of over 23,000 microfinance clients, particularly transport micro-entrepreneurs. Acceso is a regulated non-bank financial institution engaged in financing transport micro-entrepreneurs which are part of the low and middle income segments of the population and are mainly unbanked or excluded from the system. The Company actively finances natural gas vehicles which generate less Green House Gas emissions than the regular petrol vehicles.
The project will support to improve access to finance for MSME's in Peru, particularly those in the transport sector, therefore supporting MSMEs and employment generation and so helping address the inequality that exists within the different segments of society. Furthermore, the project will support the reduction of greenhouse gas emissions by supporting the financing of natural gas vehicles.
EDPYME ACCESO CREDITICIO SA
Edpyme Acceso Crediticio S.A. Juan Carlos Herkrath Sanclemente Chief Financial Officer + (511) 605 5555 Ext. 1307 juan.herkrath@acceso.com.pe Avenida Canaval Moreyra 452, Piso 3. San Isidro, Lima, Peru www.acceso.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Acceso is headquartered in Lima and serves approximately 11,500 clients, distributed mostly in Metropolitan Lima (about 90%).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $20.00 million
20000000.00
20000000.00
EDPYME ACCESO CREDITICIO SA
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37768/acceso-credito-i
XM-DAC-903-SII-42429
International Finance Corporation
Compass - Fondo de Inversion Adelanto de Efectivo
The proposed project consists of an up to US$21 million (equivalent in PEN) investment in quotas of the fund Compass Fondo de Inversion Adelanto de Efectivo (the Fund), a fund managed by Compass Group SAFI S.A. (Compass Peru) that invests in receivables focused on financing to SMEs (Suppliers) through reverse factoring and factoring.
IFC anticipates that the project will increase access to finance for local SMEs, helping to narrow the existing financing gap in Peru and other countries in Latin America. The project will have an indirect impact on job growth, as it allows SMEs to enhance their working capital to keep growing. The project will increase the capillarity and alternatives of provision of funds to SMEs in a diversity of sectors in the economy. The discount of the receivables represents a cash advance to SMEs, who benefit from higher liquidity that ultimately results in an improved cash management and better allocation of resources.
Beyond the project-level impact, IFC anticipates that the project will increase the competitiveness of the Peruvian financial markets through: i) the promotion of the factoring market by addressing the issues of funding availability, and ii) the development of the asset manager industry by supporting a factoring fund as a new asset class for the institutional investors.
COMPASS FONDO DE INVERSION ADELANTO DE EFECTIVO
General Compass Peru Inquiries Jorge Diaz Jorge.Diaz@cgcompass.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Compass Peru is headquartered in Lima, Peru and discounts invoices originated by more than 900 companies operating in the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
P-GJ - Other Non-Private Equity Fund
Total: $21.00 million
21000000.00
0.00
21000000.00
COMPASS FONDO DE INVERSION ADELANTO DE EFECTIVO
0.00
COMPASS FONDO DE INVERSION ADELANTO DE EFECTIVO
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/42429/compass-fondo-de-inversion-adelanto-de-efectivo
XM-DAC-903-SII-44606
International Finance Corporation
BBVA Peru Green
The proposed investment consists of an unsecured senior loan of up to US$60 million to BBVA Peru (the Bank), a subsidiary of the Spanish banking group BBVA (the Group). The purpose of the proposed investment is to support the Banks efforts to jump-start and strengthen the green building finance market in Peru. The project is expected to be supported by the Market Accelerator for Green Construction (IFC-MAGC) as described in the Blended Finance Section.
IFC's long-term financing is expected to jump-start an underdeveloped green building finance market by incentivizing supply and demand. Furthermore, the transaction will alleviate the impact of climate change from buildings by strengthening the Banks' ability to structure green building financing following international best practices.
Beyond the project-level impact, IFC anticipates that the project will promote competitiveness in the financial and real estate markets. In addition, given the relatively underdeveloped state of the climate finance market in Peru, IFC's engagement will build capacity and set standards, using tools to assess eligibility and track environmental impact.
BANCO BBVA PERU SA
BBVA Peru Hector Palacios Ruiz Gestion Financiera +51 1 209 1619 hpalacios@bbva.com Av. República de Panamá 3055, Lima 27, Perú www.bbva.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BBVA Peru is headquartered in Lima, Peru. The Bank operates at a national level and serves more than 6.4 million clients through a network of 311 branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AB - Commercial Banking - Housing Finance
Total: $60.00 million
60000000.00
60000000.00
BANCO BBVA PERU SA
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44606/bbva-peru-green
XM-DAC-903-SII-43524
International Finance Corporation
CajaArequipa SD1
The proposed Project consists of an up to US$50 million subordinated loan to Caja Municipal de Ahorro y Crédito de Arequipa S.A. (Caja Arequipa or the Caja). Through this project, IFC will support the strengthening of the Cajas capital to support loan growth for Peruvian micro small and medium-sized enterprises (MSMEs) and women owned MSMEs.
By supporting Caja Arequipa to finance MSMEs, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
Caja Municipal de Ahorro y Credito de Arequipa S.A.
Caja Municipal de Ahorro y Crédito de Arequipa S.A. Juan Carlos Azpilcueta Head of finance +51 54 380670 (ext. 1100) jazpilcuet@cajaarequipa.pe Enrique Canaval y Moreyra 127, San Isidro Lima https://www.cajaarequipa.pe/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Caja Arequipa is headquartered in Arequipa, Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $30.00 million
30000000.00
30000000.00
Caja Municipal de Ahorro y Credito de Arequipa S.A.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43524/cajaarequipa-sd1
XM-DAC-903-SII-43919
International Finance Corporation
BanBif Green SB
The proposed investment consists of a subordinated loan of up to US$40 million to Banco Interamericano de Finanzas (BanBif or the Bank). The purpose of the proposed investment is to (i) jump-start and strengthen its green finance portfolio and (ii) strengthen the Banks regulatory capital base to support its growth. The project is expected to be supported with up to US$525,000 from the Market Accelerator for Green Construction (MAGC) Program as described in the Blended Finance Section.
IFC anticipates that the Project will increase access to climate finance, including energy efficiency and green building projects that would enable businesses to improve their environmental footprint. The Project is expected to contribute to GHGs reduction and improve air quality by providing financing for green buildings and green projects.
Beyond the project-level impact, IFC anticipates that the project will promote competitiveness in the financial and real estate markets. In addition, given the moderately developed state of the climate finance market in Peru, IFCs engagement will build capacity and set standards, using tools to assess eligibility and track environmental impact.
BANCO INTERAMERICANO DE FINANZAS SA
Banco Interamericano de Finanzas Eduardo Rios Gerente de Division Tesoreria y Mercado de Capitales +51 981 951 371 eriosa@banbif.com.pe Av. Rivera Navarrete 600, San Isidro 15046, Lima, Peru www.banbif.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BanBif is headquartered in Lima, Peru, operating though a branch network composed by 62 offices concentrated in Lima but with relevant presence in the other regions of the Country including, among others, Piura, Callao, Arequipa and Cusco.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AB - Commercial Banking - Housing Finance
Total: $25.00 million
25000000.00
25000000.00
BANCO INTERAMERICANO DE FINANZAS SA
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43919/banbif-green-sb
XM-DAC-903-SII-46162
International Finance Corporation
Mibanco BOW
The proposed investment consists of a senior loan to Mibanco, Banco de la Microempresa S.A. (Mibanco or the Bank). The purpose of the investment is to diversify Mibancos funding base to support its lending portfolio to both formal and informal women-owned small and medium enterprises (WSMEs) (the Project).
The most significant, expected Project-level outcome is improved access to and quality of finance for WSMEs in underserved regions of Peru. Beyond the Project-level impact, IFC anticipates that the Project is expected to further contribute to market creation through improved market inclusiveness via both the demonstration and replication and the capacity building channels.
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Mibanco, Banco de la Microempresa S.A. Renzo Crisólogo Treasury Manager +51981806227 renzo.crisologo.a@mibanco.com.pe Av. República de Panamá 4575, Surquillo https://www.mibanco.com.pe/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Mibanco is headquartered in Lima, Peru and has presence all around the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AC - Commercial Banking - Microfinance
Total: $100.00 million
100000000.00
100000000.00
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/46162/mibanco-bow
XM-DAC-903-SII-47802
International Finance Corporation
BBVA PeruGreen2
The proposed investment consists of a six-year, senior unsecured loan of up to US$400 million to Banco BBVA Perú (the Bank), a subsidiary of the Spanish banking group BBVA (the Group). The main purpose of the proposed investment is to expand the Banks green building loan portfolio in Perú. The project is expected to be supported by the Market Accelerator for Green Construction (MAGC) Program as described in the Blended Finance Section.
IFC's long-term financing is expected to contribute to the growth of the nascent green building finance market in Peru. Furthermore, the transaction will alleviate the impact of climate change from buildings by strengthening the Banks ability to structure green building financing following international best practices.
Beyond the project-level impact, IFC anticipates that the project will promote competitiveness in the financial and real estate markets. In addition, given the relatively underdeveloped state of the climate finance market in Perú, IFCs engagement will build capacity and set standards, using tools to assess eligibility and track environmental impact.
BANCO BBVA PERU SA
Banco BBVA Perú SA Stefany Campos Gutarra Manager, Investor Relations and Head of Budget Modeling & Planning +515950000 rosa.campos.gutarra@bbva.com Av. República de Panamá 3055, Piso 17, Lima, Perú www.bbva.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Banco BBVA Perú is headquartered in Lima, Perú.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AB - Commercial Banking - Housing Finance
Total: $200.00 million
200000000.00
200000000.00
BANCO BBVA PERU SA
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/47802/bbva-perugreen2
XM-DAC-903-SII-47661
International Finance Corporation
DCM Protecta
The proposed transaction (the Project) consists of a 10-year subordinated debt of up to US$25 million to Protecta S.A. Compañía de Seguros (Protecta or the Company), a leading life insurance company in Peru.
Increased access to insurance: The Project is expected to enable the Company to increase access by individuals to insurance services and savings products in Peru. The financing will also help the Company increase efficiency and change their product mix focusing on products that are targeted at the lower income segments. The expansion will allow Protecta to reach a larger portion of the population in Peru, improving insurance penetration metrics in the country. Competitiveness: IFC anticipates that the Project will increase market competitiveness by driving innovation and replication by insurance companies beyond the Company in Peru to reach and increase the number of new policyholders
PROTECTA S.A. COMPANIA DE SEGUROS
Protecta S.A. Compañía de Seguros Mario Ventura Gerente General/CEO +51-1-391-3030; ext. 721 mventura@protectasecurity.pe Av. Domingo Orue 165, Lima 34 - Peru www.protectasecurity.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-JA - Life Insurance
Total: $25.00 million
25000000.00
0.00
25000000.00
PROTECTA S.A. COMPANIA DE SEGUROS
0.00
PROTECTA S.A. COMPANIA DE SEGUROS
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/47661/dcm-protecta
XM-DAC-903-SII-47962
International Finance Corporation
RansaCorp Project
The proposed investment consists of a loan of up to US$ 150 million to RANSA Corp S. L. and its Subsidiaries (the Company), a third-party logistics company (3PL) based in Peru and operating in the Andean Region and Central America. The proposed IFC loan will finance the companys expansion in the region, the acquisition of two companies, and the refinancing of RANSAs and its subsidiaries existing debt.
By supporting Ransa Corp S.L and Subsidiaries, IFC best positions to increase access to Third Party Logistics services (3PL) in Latin America.
RANSA CORP S.L
RANSA César Santivañez Corporate HSE Manager +51 973 927 139 CsantivanezS@ransa.net Av. 28 de julio 1150 Miraflores, Lima, Perú www.ransa.biz/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 N/A
Peru
Ransa Corp S.L. is headquartered in Lima, Peru.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
E-AE - Other (Including General Freight Trucking)
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/47962/ransacorp-project
XM-DAC-903-SPI-8120
International Finance Corporation
Interbank Project
Summary Of Project Information (SPI) Project Name Peru-Banco Internacional del Peru Region Latin America and the Caribbean Sector Project No008120 Projected Board DateJune 16, 1997 Company NameBanco Internacional del Peru Technical Partner and/or Major Shareholders ING Bank as fronting bank for the Letter of Credit and Dresdner Bank as co-arranger of the Letter of Credit Syndication. Project Cost Including proposed IFC investment US$120 million Location of project and Description of site Lima, Peru Description of Company and Purpose of Project The project involves the structuring of an up to US$120 million facility in the form of an IFC A and B Loan for Interbank, the fourth largest Peruvian bank with US$1.3 billion in assets. The US$20 million IFC A Loan would have a term of eight years with a three year grace period. It would be used to provide term financing to private sector middle-market Peruvian companies, for projects involving consolidation, modernization, expansion, and export-related growth. The B Loan would be for the account of participants and would comprise the proceeds of a three-year structured US Commercial Paper program which is expected to be of up to US$100 million. It would be used to provide medium-term financing and develop Interbanks local debt underwriting for private sector companies in Peru. Environmental Category and Issues This is an environmental review category FI project. Interbank will be required to undertake an environmental review of each subproject. IFC will assess Interbanks capability to carry out environmental reviews. Date SPI sent to PIC May 14, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
BANCO INTERNACIONAL DEL PERU S.A.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
BANCO INTERNACIONAL DEL PERU S.A.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8120/interbank-project
XM-DAC-903-SPI-8267
International Finance Corporation
Agraria El Escorial S.A.
Summary Of Project Information (SPI) Project Name Peru Milkito Region Latin America & the Caribbean Sector Project No008267 Projected Board DateNovember 30, 1998 Company NameAgraria El Escorial Technical Partner and/or Major Shareholders Agraria El Escorial S.A. (Agraria) is one of the Perus most important agribusiness companies in the processing of dairy and fruit juice products. With sixteen years of experience in the dairy and fruit juice markets, Agraria is the undisputed leader in these markets with a market share of 56% and 46% respectively. Agrarias dairy operations are semi-integrated having its own dairy farm (1800 heads), a processing plant and its own distribution network. The company also buys raw milk from farmers in the Lima region. Semi-integration is also the case for the fruit juice side of the business where the company buys its pulp and fruit juices from third parties. Since 1991, Agraria has been consecutively recognized, by Perus Agricultural University, for the quality of its production and its dairy cattle management. A recent market survey by the respected Peruvian newspaper El Comercio ranked the companys Milkito brand among the ten most recognized brands in Peru. Project Cost Including proposed IFC investment IFC is considering a US$7 million investment in the form of an A loan and quasi-equity. Location of project and Description of site The Company is located in Canete, a rural region 60 Km south of Lima. The project includes the acquisition and refurbishing of a dairy plant in Jequetepe, a northern city considered one of Perus most important dairy areas. Description of Company and Purpose of Project To complement its line of yogurts and fruit juices, Agraria wants to introduce UHT dairy/juice products which are rapidly gaining acceptance with the Peruvian consumers in view of their unique properties such as convenient packaging, no need for refrigeration and an extended shelf life. The Company is positioned to grab a large share of this market in view of its premium and well recognized brand (Milkito) and its established sales and distribution network throughout Peru. The Company is planning to buy an existing dairy operation with UHT equipment. IFC financing will be used toward the rehabilitation of the facilities, the purchase of new packaging equipment, and bringing the Companys environmental practices to World Bank standards. A portion of IFCs financing will be used to restructure the Companys liabilities and reduce its financial costs. Environmental Category and Issues This is a category B project according to IFC''s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key environmental, occupational health and safety issues which were of potential concern in this project included: environmental conditions at the existing and new sites and any potential site environmental liabilities; air and water emissions and solid wastes from existing and proposed plants; hazardous materials handling and storage; plant hygiene practices; and general worker health and safety. The sponsor has provided detailed reports on the environmental and health and safety aspects of their existing operations. The sites have all been used for agriculture or agricultural processing, and none of the sites has any environmental liabilities. Air emissions from the small boilers at the plants will be minor and within World Bank Group limits. Wastewater treatment plants are being designed to meet World Bank Group guidelines and will be implemented according to an agreed schedule. Organic solid wastes are all recycled or reused. CFC refrigerants will be phased out as required under the terms of the Montreal Protocol. Hygienic practices are incorporated throughout the plants, and the company has a comprehensive worker health and safety program in place. All plants will fully meet the applicable World Bank Group health and safety guidelines. The is from the InfoShop. Host country location of environmental documents Date SPI sent to InfoShop October 19, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Gloria S.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AF - Dairy Products
Total: $9.00 million
2000000.00
7000000.00
2000000.00
Gloria S.A.
7000000.00
Gloria S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8267/agraria-el-escorial-s-a
XM-DAC-903-SPI-8279
International Finance Corporation
Agro Industrial Paramonga S.A.
Summary Of Project Information (SPI) Project Name Peru-Paramonga Region Latin America & Caribbean Sector Food and Agribusiness Project No008279 Projected Board DateOctober 31, 1997 Company NameAgro Industrial Paramonga S.A. Technical Partner and/or Major Shareholders The main sponsors are Mr.Jaime Mur, the president of Corporacin de Productos Alimenticios Nacionales PYC S.A., the countrys leading bakery, and the Wong Group, which operates a chain of 14 supermarkets in the Lima area. Project Cost Including proposed IFC investment Project cost is estimated at US$68.9 million. IFCs proposed investment consists of an A loan of up to US$22 million and a B loan of up to US$23 million. Location of project and Description of site The project is located at Paramonga, on a coastal plain 195 km north of Lima. The mill and 5,200 ha of cane fields are situated in a valley between the Fortaleza and Pativilca rivers. Description of Company and Purpose of Project (include IFCs Role and Development Impact) The project will produce 120,000 tons of refined cane sugar for domestic and industrial use. It will be the first sugar estate in the country to be rehabilitated. IFCs involvement supports the government program to captitalize the sugar sector, and has a strong demonstrative effect as the Paramonga model will undoubtedly be followed in the capitalization of other sugar companies. IFC plays a catalytic role by mobilizing US$23 million in B loan participation. Through the companys extension program, crop financing, know-how and new cane varieties will be made available to outgrowers. IFC was instrumental in bringing new technology to Peru (diffuser technology, co-generation), and in arranging for technical flows between the company and the sugar industry in South Africa. The project insures the survival of a company which was technically bankrupt, thus safeguarding 1,800 jobs in a rural area, and enabling the company to pay some US$18 million in back wages and benefits to workers. Environmental Category and Issues This is a category B project according to IFCs environmental review procedures. The company has developed plans to address all environmental and social issues. Mill process water is recycled for irrigation, filter cake is used as a fertilizer and bagasse is burnt to provide energy. The boiler will be equippped with wet scrubbers to meet World Bank air emissions standards. Due to overstaffing, the company plans to terminate 309 workers. A comprehensive package of health and safety measures will be incorporated in the project, including training in the handling and use of fungicides/pesitcides. Current overstaffing at the mill will be addressed through a phased program of retirement and lay-offs negotiated with staff and unions, and the company has prepared detailed plans to provide displaced workers with severance or retirement pay packages, training to acquire new job skills, and assistance in starting their own businesses. In addition, an outplacement and counseling office have been established to assist workers in finding suitable employment. The Environmental Review Summary is available from the Public Information Center. Date SPI sent to PIC September 16, 1997 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Agro Industrial Paramonga S.A.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Sugar and Confectionery
Total: $22.00 million
22000000.00
22000000.00
Agro Industrial Paramonga S.A.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8279/agro-industrial-paramonga-s-a
XM-DAC-903-SPI-8484
International Finance Corporation
Latino Leasing, S.A.
Summary Of Project Information (SPI) Project Name Peru - Latino Leasing Region Latin America and the Caribbean Sector Project No008484 Projected Board DateDecember 12, 1997 Company NameLatino Leasing S.A. Technical Partner and/or Major Shareholders Latino is controlled by Inversiones Latinas (68.5%), a holding company owned by the controlling shareholders of Banco Latino (Perus fifth largest commercial bank). Other shareholders in Latino Leasing include FMO (7.1%) and Corporacion Andina de Fomento (7.7%). Latino Leasings shares are listed on the Lima Stock Exchange but do not trade. Project Cost Including proposed IFC investment IFCs investment will be an A Loan of US$10 million Loan and an up to 15% equity participation in Latino Leasing. Location of project and Description of site Peru Description of Company and Purpose of Project Latino Leasing is Perus fourth largest specialized leasing company, with assets of US$78.3 million and equity of US$11.5 million at June 30, 1997. IFCs Loan will help Latino Leasing to diversify and extend the term of its funding sources to finance capital goods and other equipment needs of Peruvian small-and medium-sized companies. Up to 10% of the Loan could be used to finance leases for microenterprises. IFC has an important institution building role by supporting Latino Leasings growth and attractiveness to investors. Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFCs environmental review procedure. For relevant operations, Latino will be required to implement an environmental management system consistent with host country requirements and World Bank policies and guidelines. For investments made in leases to microenterprises, the Company should ensure that the lessee complies with the applicable environmental laws of Peru, and that the investment is not an excluded item on IFCs microlending screen. In addition, IFC will assess Latinos capabilities to implement the system. Date SPI sent to PIC November 11, 1997 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
Latino Leasing, S.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
LB - Leasing Services
Total: $13.00 million
10000000.00
3000000.00
10000000.00
Latino Leasing, S.A.
3000000.00
Latino Leasing, S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8484/latino-leasing-s-a
XM-DAC-903-SPI-8929
International Finance Corporation
Agroguayabito S.A.
Summary Of Project Information (SPI) Project Name Peru-AgroGuayabito, S.A. Region Latin America and Caribbean Sector Project No008929 Projected Board DateJune 25, 1998 Company NameAgroGuayabito, S.A. Technical Partner and/or Major Shareholders Labarthe Brothers; Lima, Peru Project Cost Including Proposed IFC Investment Project Cost: US$30 million IFC Loan: US$7 million IFC Equity: US$1 million Location of Project and Description of Site The project site is located approximately 200km north of Lima, east of the Pativilca River. The site is on never cultivated desert lands contiguous to established coastal river valleys. Description of Company and Purpose of Project (include IFCs Role and Development Impact) AgroGuayabito was established in 1993 for developing integrated agribuisness operations in poultry, asparagus and tomato production and processing. The project will: expand the Company''s asparagus and industrial-use tomato production; develop sugar cane production; develop infrastructure and irrigation canals; and improve social conditions. IFC''s role in this project will support a key Peruvian Government program to reform the agricultural sector as well as sending a positive signal to the investment community regarding Peru''s status as a secure country for agricultural investments. The project''s main development impacts are: significant (over 1,000) rural employment, entreprenueurial development, agribusiness development, and environmental safeguards. Environmental Category and Issues This is a category B project according to IFC''s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The following potential environmental, health and safety impacts of the project were analyzed: land use in agriculture expansion areas and presence of environmentally-sensitive areas and critical natural habitat; agricultural practices and pesticide use, including impacts on soil, water air and human health; air emissions, wastewater effluents and solid wastes from asparagus and tomato processing facilities; irrigation water source and impacts on groundwater levels; storage and handling of agricultural chemicals; and general worker health and safety. Agricultural expansion is occurring on previously unused desert land, and no environmentally-sensitive or protected areas will be affected. The company has implemented a comprehensive integrated pest management plan and has its own entomological laboratory which is involved in identifying and using natural insect predators to control pests in its crops. The company is also pioneering the use of drip and microspray irrigation to conserve water supplies. The companys processing operations will be operated to minimize effluents and ensure that they meet the applicable World Bank Group guidelines. The is from the Infoshop Date SPI sent to InfoShop May 15, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
AGRO GUAYABITO SA
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AE - Fruit and Vegetable Preservation or Processing (Canning, Freezing, Drying, Jams, etc.)
Total: $8.00 million
7000000.00
1000000.00
7000000.00
AGRO GUAYABITO SA
1000000.00
AGRO GUAYABITO SA
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8929/agroguayabito-s-a
XM-DAC-903-SPI-9180
International Finance Corporation
Alicorp S.A.
Summary Of Project Information (SPI) Project Name: Peru: Alicorp S.A. Region:Latin America and Caribbean Sector:Food and Agribusiness Project No:009180 Projected Board Date:April 30, 1999 Company Name:Alicorp S.A. Technical Partner and/or Major Shareholders Alicorp is controlled by the Romero group, Peru''s largest private sector group with additional important interests in the Peruvian banking sector. Additional shareholders include the Nicolini group, JP Morgan and Alicorp employees. Project Cost Including proposed IFC investment Project Cost: US$ 130 million, including some US$ 50 million in debt refinancings. IFC''s Proposed Investment: US$ 70 million, including a "B" loan from participating banks of up to US$ 30 million, A loan of US$ 20 million and equity of US$ 20 million. Location of project and Description of site At industrial sites owned and operated by Alicorp in Lima, Arequipa and Piura Description of Company and Purpose of Project Alicorp is Peru''s leading food company and the market leader in edible oils, wheat flour, pastas, laundry soaps, packaged rice and cookies and crackers. Environmental Category and Issues This is a category B project according to IFC''s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key environmental, social, occupational health and safety issues which were of potential concern in this project include: compliance with relevant national and World Bank Group requirements for existing facilities, wastewater treatment, air emissions, solid waste management, management and storage of hazardous materials, occupational health and safety, corporate environmental management capacity. Existing operations are in compliance with national and World Bank Group (WBG) requirements with the exception of waste water discharge from the two vegetable oil sites. These failings will be addressed during the project and will allow the company to be fully in compliance by the end of the project. As part of the project, the company will implement an Environmental Management System (EMS) based on World Bank Group requirements throughout the company. Date SPI sent to InfoShop: March 22, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Alicorp S.A.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AA - Grain Processing (Milling, Starch, Flour, Malt)
Total: $40.00 million
40000000.00
40000000.00
Alicorp S.A.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9180/alicorp-s-a
XM-DAC-903-SPI-9248
International Finance Corporation
Ransa Comercial S.A.
Summary Of Project Information (SPI) Project Name: Peru - Ransa Region:Latin America and Caribbean Sector: Project No:009248 Projected Board Date:June 24, 1999 Company Name:Ransa Commercial S.A. Technical Partner and/or Major Shareholders RANSA is wholly owned by the Romero group, one of Peru''s top business groups with major business interests in the agribusiness and banking sectors. The Romero group has a large interest in the largest Commercial Bank of Peru, Banco de Credito. It has a majority control in Alicorp, an Agribusiness conglomerate with activities in edible oil, wheat, flour, pasta and related products. The Romero group wholly owns Palmas del Espino with palm oil plantations (4,600 ha), extraction plants and refineries, and also Industria de Aceitas in Bolivia with soybean plantations (7,000 ha), crushing plants and refinery. Project Cost Including proposed IFC investment Total Project Cost is US$20 million and IFC has been requested to provide a US$10 million loan to Ransa. Location of project and Description of site Callao, Peru The site is located in Callao, close to the airport and the sea port and represents a total area of 600,000 sqare meters. Description of Company and Purpose of Project RANSA is an integrated logistic service operator based in Lima, which specializes in handling, storage and distribution of grains, frozen food and other general cargoes. The company is expanding its activities by developing a new modern distribution center at a new site Environmental Category and Issues This is a category B project according to IFCs environmental review procedure. The review of this project consisted of appraising technical and environmental information submitted by the project sponsor as well as site visits by environment division staff . The following potential environmental, social, health and safety impacts of the project were analyzed: site selection issues, compliance with World Bank Group environmental and health and safety requirements, employee working conditions, and handling and storage of any hazardous chemicals. The company intends to relocate its existing warehousing and logistics center from Av. Argentina to a new purpose built site (acquired in 1997) near the port of Callao. Previous land use included horticulture and in addition there were 15 households who had settled on the land without the permission of the then owner. A compensation package was developed for both the tenant farmers and also the squatter households. This package was fully documented and subsequently formed the basis of a resettlement plan (RP) prepared for IFC. A summary of the RP is attached to the ERS and the entire document is available at the World Bank infoshop in Washington DC and also locally in Lima as part of the disclosure process for this project. The project will be in compliance with relevant World Bank Group environmental guidelines with regard to air emissions, liquid effluents and solid waste. No hazardous materials will be stored on site and the small quantities of pesticide used to control vermin and insects are well managed and used in compliance with WBG requirements. The company complies with Health and Fire Department regulations in respect of health and safety at work. Staff receive appropriate training and the company is in compliance with World Bank Group requirements. The is from the InfoShop. Host country location of environmental documents Peru Date SPI sent to InfoShop: May 5, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Ransa Comercial S.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
CA - Storage (Including Agricultural Products)
Total: $10.00 million
10000000.00
10000000.00
Ransa Comercial S.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9248/ransa-comercial-s-a
XM-DAC-903-SPI-9502
International Finance Corporation
Yanacocha III
Summary Of Project Information (SPI) Project Name: Peru - Yanacocha III Region:Latin America and Caribbean Sector:Mining and Extraction of Metals and Other Ores Project No:009502 Projected Board Date:June 2, 1999 Company Name:Minera Yanacocha S.A. Technical Partner and/or Major Shareholders Yanacocha is an unlisted Peruvian company owned: 51.35% indirectly by Newmont Mining Corporation ("Newmont") of the USA; 43.65% indirectly by Compañía de Minas Buenaventura S.A. of Peru (Buenaventura), and 5% by IFC. Though a Newmont affiliate manages the Company, the Company''s employees consist almost entirely of Peruvian nationals, including the Company''s general manager. Project Cost Including proposed IFC investment The project cost is approximately US$120 million, to be financed, as currently contemplated, with US$20 million of A loan, US$40 million of B loan, and US$60 million of internal cash generation. Location of project and Description of site The project is located in northern Peru approximately 47 km north of the city of Cajamarca at an altitude of 4,000 meters above sea level. The site is a current mining facility on a high plateau above the tree line. Prior economic uses were primarily grazing land of inferior quality because of sparse vegetation, with a few pockets of irrigated agricultural land or commercial reforestation. Description of Company and Purpose of Project Yanacocha is currently the largest gold mine in Latin America. It produced 1.3 million oz of gold in 1998. It was started in 1993 with financing provided by IFC. Due to the emerging markets debt crisis and Peruvian borrowers'' reduced access to long-term credit, the Company requested financing from IFC. The project is the development of the La Quinua deposit, containing approximately 7 million reserve oz of gold, which will replace the production of exhausting deposits and increase the mine''s total production and life. Environmental Category and Issues This is a Category A project according to IFCs Environmental and Social Review Procedure. Environmental, health and safety issues include: dust and exhaust emissions; water resources and quality; water impoundments (process, storm water, and sediment ponds); natural ecosystems; handling of hazardous materials; occupational health and safety; emergency response; waste management; and reclamation and closure. Social issues include: relocation of approximately 26 families, whose presence was seasonal (the "Landowners"); economic displacement resulting from acquisition of farm lands; and social development in the area of mine influence. Land for La Quinua was purchased through market transactions, with adequate compensation for assets and improvements. The Company either constructed houses for the Landowners at a new site, or they were paid the equivalent value in compensation. Approximately 30% of the Landowners relocated out of the immediate area, most to the City of Cajamarca. Significant assistance was provided through relocation assistance, priority hiring, production intensification on remaining land, and participation in various assistance programs administered by the Companys rural development program. Project impacts on surrounding communities were addressed through consultation and negotiation on compensation. The Company is currently in compliance with Peruvian environmental regulations and IFC environmental and social requirements. The Company''s environmental and social performance and plans are set forth in documentation, including the Environmental Impact Study, its addendum and the Environmental Action Plan, released by the Company to the InfoShop on March 30, 1999. Specific mitigation measures taken by the Company include: dust suppression measures to mitigate dust emissions; minimization of water uptake to ensure adequate water supply to Cajamarca and continuation of traditional activities in the various catchments within Yanacocha''s area of influence; leachate collection and recovery systems and an intensive monitoring program to prevent contaminated process solutions from entering surface water or groundwater systems; location of process installations outside the Río Porcón and Río Grande basins, which are Cajamarca''s sources of water supply, as an additional preventive measure; reclamation of areas directly affected by the operations according to a well designed and properly budgeted plan; adequate Occupational Health and Safety and Emergency Response programs; a land acquisition policy which complies with IFC policies and has a good record in the resolution of the few land use conflicts that have arisen as a result of Yanacocha''s purchase of grazing and farm land; and an ongoing Community Development Plan which maximizes the Company''s development impact in its area of influence through effective partnering with development organizations, government, and other private sector enterprises. No significant impacts are expected on natural habitats due to Project activities. Yanacocha''s safety record is consistent with international standards and has improved over time. The is from the InfoShop. Host country location of environmental documents Municipality of Cajamarca Public Library Cajamarca Province Pasaje Adhulpa 360 Date SPI sent to InfoShop: May 3, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Minera Yanacocha S.R.L.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BE - Gold
Total: $30.00 million
30000000.00
30000000.00
Minera Yanacocha S.R.L.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9502/yanacocha-iii
XM-DAC-903-SPI-9528
International Finance Corporation
Sociedad Agricola Drokasa S.A.
Summary of Project Information (SPI) Project Name: PERU-AGROKASA Region:Latin America and Caribbean Sector: Project No:009528 Projected Board Date:June 1, 1999 Company Name:Sociedad Agricola Drokasa S.A. Technical Partner and/or Major Shareholders Headquartered in Ica (300KM south of Lima), Agrokasa is a wholly owned subsidiary of Corporacion Drokasa, one of Perus leading producer/distributor of pharmaceutical, health, beauty products, liquor and miscellaneous foods. Drokasa was founded in 1996 with the acquisition of fundo Santa Rita in Ica (200 ha)initiating a successful 150 ha pilot project growing grapes and asparagus. Agrokasa uses state-of-the-art drip irrigation technology; packing is presently contracted out to third parties and water resources have been secured through purchase, conditioning and rehabilitation of its own wells. Project Cost Including proposed IFC investment The project cost is US$22 million. IFC is considering a US$6 million investment in the form of a loan. Location of project and Description of site Agrokasa'' expansion site and future packing facility are in the Department of Ica 300KM south of Lima. Description of Company and Purpose of Project The Project consists of developing a high value horticulture operation in Ica based on exports of asparagus and grapes to Europe and the United States. After a very successful pilot project, the company plans to expand the hectares under asparagus and grapes cultivation from 73 has. to 730 has. and from 65 has. to 360 has. respectively. The project also includes: i) the construction of an export packhouse; ii) completion of infrastructure work; iii) working capital for growing crops; iv) an integrated feeding center for cattle that will be fed from asparagus brushwood using their manure to fertilize the land; and v) debt restructuring. Environmental Category and Issues This is a category B project according to IFCs environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key environmental, social and occupational health and safety issues that were of potential concern in the project include: land acquisition and prior land uses; sustainability of irrigation water supply; impacts on environmentally-sensitive areas; use of Integrated Pest Management and pesticide use; impacts of air and wastewater emissions and solid wastes; general worker health and safety. The company has acquired two farm sites near Ica. One of which (Santa Rita) was formerly owned by a cooperativa. Although it was not required as part of the purchase, the sponsor provided a compensation package to the former cooperative owners who unanimously transferred land possession. The process of consultation and compensation has been documented and details of the process are presented as a resettlement plan attached to the ERS. Ground water rights are allocated by the Ministry of Agricultures department for natural resources (INRENA) who are also responsible for monitoring groundwater levels. The sponsor has a well-documented record of the methods by which water rights were obtained and this material forms part of a resettlement plan attached to the ERS. Impacts on environmentally-sensitive areas: The Santa Rita farm is a long established farm and contains no sites of ecological importance. The La Catalina site comprises an area reclaimed from desert and did not contain areas of ecological significance. Neither site is near to any protected areas of ecological significance. Use of Integrated Pest Management and pesticide use: The sponsor is developing an integrated pest management system that includes management, biological and chemical control systems. Impacts of air and wastewater emissions and solid waste: The company does not generate power and there are no significant emissions to the atmosphere except for methyl bromide which will be used in compliance with US requirements and phased out in accordance with international requirements of the Montreal Protocol and replaced with an acceptable alternative fumigant. Wastewater will come from washing facilities (potential significant contaminants will include chlorine) and septic waters. The sponsor is discussing options for the treatment of process wash waters and has confirmed that treatment will achieve WBG requirements. Septic waters will be discharged to on site septic tanks. General worker health and safety: At the Santa Rita site, the company will employ approximately 180 full time staff rising to up to 600 during harvest. Additionally, Fundo La Catalina will employ from 390 permanent employees rising to 1,400 during the harvest season. The company has an occupational health and safety plan and provides appropriate training for all employees. The is April 30, 1999 from the InfoShop. Date SPI sent to InfoShop: April 30, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sociedad Agricola Drokasa S.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AF - Fruits and Vegetables
Total: $6.00 million
6000000.00
0.00
6000000.00
Sociedad Agricola Drokasa S.A.
0.00
Sociedad Agricola Drokasa S.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9528/sociedad-agricola-drokasa-s-a
XM-DAC-903-SPI-9615
International Finance Corporation
Empresa Agroindustrial Laredo, S.A.A.
Summary Of Project Information (SPI) Project Name Peru - Agroindustrial Laredo S.A.A. RegionLatin America and Caribbean Sector Project No009615 Projected Board DateNovember 24, 1999 Company NameEmpresa Agroindustrial Laredo S.A.A. (Laredo) Technical Partner and/or Major Shareholders Manuelita S.A., the second-largest sugar producer in Colombia and the most efficient, is both a majority shareholder in Laredo and technical partner to the company. Manuelita has been controlled by the Eder family for nearly 135 years. Project Cost Including Proposed IFC Investment Project cost is US$51.5 million of which IFC will provide up to US$10 million as an A loan and US$5 million as a C loan. The Netherlands Development Finance Company (FMO) will provide up to US$13 million in parallel A and C loans. Location of Project and Description of Site Trujillo, 560 km north of Lima, Peru. The site consists of 4,265 hectares of sugarcane fields and an existing sugar factory. Description of Company and Purpose of Project Empresa Agroindustrial Laredo S.A.A. is a former sugar cooperative converted to corporate form under the government''s program to reform the sugar sector. Laredo owns 4,265 hectares of agricultural land in Trujillo, Peru and grows sugar on 3,636 hectares. The company produces raw sugar from its own cane, and cane supplied by independent growers, in a 2,000 ton/day factory. The project consists of: (i) renewal and replanting of 2,900 ha of sugar cane fields; (ii) rehabilitation/expansion of an existing sugar mill to process up to 3,000 tons/day of sugarcane equivalent to 73,479 tons of refined sugar and; (iii) repayment of overdue retirement obligations and other labor costs and past due loans from suppliers. By assisting with the conversion of the company from a cooperative to a publicly owned corporation, IFC supports the governments program to reform the sugar sector. IFC also fulfils its role in supporting private sector development by providing necessary financing (and mobilizing additional external funding from FMO) for the substantial investments the sector requires for rehabilitation and expansion of existing production infrastructure. The project will enhance agricultural productivity and improve management of natural resources. In addition, IFC enables productivity improvements within the sector by facilitating technology transfer to Peru from the better-managed Colombian sugar industry. Environmental Category and Issues This is a category B project according to IFCs environmental review procedure. Key issues considered during appraisal included: site acquisition and management; pesticide use and Integrated Pest Management; sustainability of water supply and water rights; waste water treatment; air emissions from the sugar mill; solid waste management; hazardous materials use; retrenchment of workforce and social commitments; and occupational health and safety issues. The project will not affect areas of ecological or environmental significance and there will be no economic displacement or resettlement. The sponsor will protect and conserve all sites of archaeological significance that lie within the project boundaries and will implement an integrated pest management program. Exploitation of irrigation water is sustainable and abstraction will not adversely affect downstream users. Currently there is excessive use of water within the mill site which is discharged directly to adjacent fields as irrigation water. Additionally, filter cake and distillery waste are combined and discharged directly to an adjacent open watercourse without treatment. Significant air emissions are apparent from each of the four boilers and the sponsor will replace all four boilers with a single new boiler (with appropriate pollution control equipment to achieve WBG requirements) by 2002. The sponsor has undertaken to install new equipment to address both air emission and waste water issues to IFCs satisfaction. The mill site contains large amounts of solid waste. The sponsor has begun to sort and dispose of this material and will recycle/re-use waste where possible. In instances where re-use is not possible, waste will be disposed of to local landfill. Several sources of hazardous material are evident and the sponsor has undertaken to ensure appropriate and safe use and disposal of all materials. The sponsor has begun a program of retrenchment to reduce the labor force. This process has been undertaken in an open and transparent manner in accordance with Peruvian labor laws. The sponsor also acquired social assets (a hospital and three schools). The management and ownership of the schools have been transferred to government. The hospital will be transferred to the local health authority or privatized. The sponsor has undertaken to maintain and improve contracts with local cane out-growers through the development of legal contracts with local suppliers and to commit to the purchase of cane. The mill site does not currently comply with WBG health and safety requirements and the sponsor has already prepared a detailed risk assessment of health and safety issues at the mill and will develop and implement an occupational health and safety plan acceptable to IFC during the project. The is from InfoShop. Host country location of environmental documents In several public and private institutions and offices including: Municipal Office in Trujillo Municipal Office in Laredo Universidad Nacional de Trujillo Rector: Dr. Guillermo Gil Malca Diego de Almagro 344 Date SPI sent to InfoShop October 25, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Agroindustrial Laredo S.A.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Sugar and Confectionery
Total: $15.00 million
15000000.00
15000000.00
Agroindustrial Laredo S.A.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9615/empresa-agroindustrial-laredo-s-a-a
XM-DAC-903-SPI-9874
International Finance Corporation
Peru Orient Express Hotel
- Technical Partner and/or Major Shareholders Peru OEH S.A. (POEH) is a 50:50 joint venture between Peru Hotels S.A., a subsidiary of Peru Real Estate S.A. (itself a subsidiary of Peruval, an investment and financial services group), which is also involved in a few other hotel projects in Peru; and Orient Express Hotels Ltd. (OEH), an operator of luxury boutique hotels throughout the world as well as trains and cruises. Orient Express is, in turn, owned by Sea Containers Ltd. Peru Hotels S.A. operates prestigious hotels formerly belonging to a government agency, ENTUR PERU, purchased during the public bidding of state-owned companies. Peru Real Estate S.A. owns 60% of Peru Hotel S.A. In addition to its hotel operations, this company owns 60% of Peru Desarrollo Inmobiliario. This is a subsidiary focusing on the master development of vacational homes in Limas coastline. It also develops shopping malls and high-scale housing buildings. The companys shares are listed on the Lima Stock Exchange and, at the same time, the company has a Level I ADR program in the over-the-counter market in New York. Peruval is a company that provides securities intermediation, stock market and economic research, corporate finance, securities placement and distribution services, project finance and new companies start-ups, as well as other financial services. OEH is an international provider of services for the tourism industry, with a portfolio that includes 18 hotels, 4 luxury trains and a cruiseship in the Far East. OEH acquired its first property, the Hotel Cipriani in Venice in 1976. Today, the company operates 18 deluxe hotels in four continents. These hotel properties share outstanding historic and architectural characteristics. The company also invested outside of the hotel industry by acquiring the Venice-SimplonOrient Express train in 1982. Today it owns 4 luxury trains and a cruise ship in the Far East. OEH is a subsidiary of Sea Containers Ltd., a corporation with $2.5 billion in assets, and sales of over $1.3 billion during 1999. - Project Cost Including proposed IFC investment The total project cost is estimated at $22.5 million. IFC is considering an investment comprised of an A Loan of up to $6 million and a C Loan of $4 million. - Location of project and Description of site The proposed project includes: - Refurbishing an existing 3-star 32 room Machu Picchu Sanctuary Lodge in Machu Picchu; - Refurbishing an existing 123-room, 5-star Monasterio Hotel in Cusco; - Converting a building adjacent to the Monasterio Hotel (las Nazarenas Convent) to a 58 suite, 5-star hotel; - the purchase and installation of the furniture, fixtures, and equipment (FF&E); - the purchase and installation of required environmental and fire and safety features; and - the allocation of funds for pre-opening costs, interest during construction, working capital, and contingency costs. - Description of Company and Purpose of Project Conceptually the project makes sense for the type of tourism attracted to this area: cultural enthusiasts and others interested in seeing the ruins of Machu Picchu and the city of Cusco. Orient Express Hotels is an excellent operator fit. The challenge is to raise the standards of the physical product and service quality and adjust the marketing strategy to such an extent that room rates and revenues are sufficiently enhanced to justify the additional investment. IFC''s involvement in the proposed project will provide long-term financing necessary for projects of this type, at a reasonable cost. Funding with long-term maturities necessary for hotel/real estate projects is currently unavailable in Peru. In addition, IFC''s Environmental Unit will assist the company with its substantial environmental and cultural heritage obligations. The proposed hotel development is expected to contribute to Peru''s tourism infrastructure by providing international standard accommodations and food and beverage to an increasing amount of visitors in the area. The project is expected to generate an additional 200 jobs directly, and also substantial indirect employment though the broader multiplier effects of the investment on the regional economy, with other sectors of the economy such as restaurants, agriculture and tour guiding benefiting from this. Tax revenues for the government will also increase. Additionally, the company will upgrade its human capital by imparting professional training to its employees as well as the latest management techniques used by Orient Express in its world renowned hotels. IFC''s investment is expected to consolidate the privatization process in Peru, set physical standards for future hotel investments and increase foreign exchange earnings. In addition, the fact that this project is restoring a historic monument (Nazarenas Convent) is an important part of the project. - Environmental Category and Issues This is a Category B project. The following potential environmental, health and safety, and social impacts of the project were analyzed: - impacts on cultural heritage; - land acquisition process and arrangements; - liquid effluent treatment and solid waste disposal; - handling of hazardous waste; fire protection and life safety; - health and safety; and environmental management systems. For all sites, Peru OEH will have permits from the Insituto Nacional de Cultura (INC) before starting refurbishment or construction. The INC is the government agency responsible for the protection and management of cultural properties. This satisfies the objectives and procedures of the IFCs policy on cultural properties. UNESCO is concerned about the Machu Picchu Historical Sanctuary because of growing visitor numbers and associated development. UNESCOs World Heritage Center recently reviewed the status of the Machu Picchu Sanctuary Hotel Lodge. Both the company and IFC informed the World Heritage Center of the planned refurbishment. The sponsor will install a new effluent treatment system at the Machu Picchu Sanctuary Lodge to meet IFC standards. Effluent at the Monasterio and the new Nazarenas hotels will be treated by the Cusco wastewater treatment system. The Cusco municipality can accept and treat the effluent, as it can solid and construction waste from all three projects. Corrective Action Plans developed by the fire safety engineer to bring the Monasterio and Machu Picchu properties into compliance with IFC fire and life safety guidelines will have been accepted and scheduled by the company prior to first disbursement; furthermore, Peru OEH agrees to follow the engineer''s recommendations for fire and life safety on the Nazarenas property. All buildings will meet Peruvian standards for earthquake risk. IFC concludes that the proposed project will meet the applicable World Bank Group environmental and social policies and the environmental, health and safety guidelines upon successful implementation of the measures listed in the Environmental and Social Action Plans. The is from the InfoShop. Host country location of environmental documents1) Cusco: Biblioteca Municipal de la ciudad del Cusco. Calle Santa Catalina No.333. 2) Aguas Calientes: estacion de ferrocarril del pueblo de Aguas Calientes en el km. 110 , en el Boletin de Informes de la mencionada estacion. Date SPI sent to InfoShop March 31, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit Telephone: (202) 473-7711 Fax: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
PERU OE.H. S.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Resort Hotel (Including Lodges)
Total: $10.00 million
10000000.00
10000000.00
PERU OE.H. S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9874/peru-orient-express-hotel
XM-DAC-903-SPI-10024
International Finance Corporation
Peru Rail Project
Under the 30-year concession contract the Peruvian state railway ENAFER transferred fixed assets and rolling stock of the Southern line and Southeastern line to Ferrocarril Transandino S.A. According to the concession agreement, the shareholders of the Concessionaire are allowed to own one railway operating company. Orient-Express and Peruval formed PeruRail S.A. and took over operations of the network on September 21, 1999. In addition, the shareholders formed Meviasur S.A.C., a company responsible for infrastructure maintenance. The project comprises the project companys investments for upgrading and rehabilitation of the railway network, the rehabilitation of rolling stock, the purchase of equipment and radio system and other investments from 2001 to 2004. In addition, the project includes the refinancing of investments in 2000. The project company is expected to improve and maintain the railroad according to Class II American railway standards as specified in the bidding documents and the concession contract. Major parts of track and superstructure will be upgraded, locomotives will be maintained and replaced, and the telecommunication system will be replaced. The railway sector plays an important economic role in Peru by transporting large amounts of minerals, petroleum derivatives, and other bulk commodities that constitute a substantial part of total exports. This role is even enhanced by helping in the strategic regional development of the ports and in the attraction larger tourism inflows to the country. IFC has been asked to help financing the project by providing long-term financing on appropriate terms and maturities which are otherwise not available on a project financing basis in Peru.
Ferrocarril Transandino S.A.
PeruRail, Oficina Principal, Avenida Tacna y Arica 200, Arequipa, Peru.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The headquarter of the project company is located in Arequipa, Peru. The project company operates a 854 km long railroad network in Southern Peru, including: - the standard gauge Southern line from the ports of Matarani and Mollendo to Juliaca (469 km), from Juliaca to Puno (47 km) and from Juliaca to Cusco (338 km); and - the narrow gauge (900 mm) Southeastern line from Cusco to Hydro electric, near Machu Pichu (121 km).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Rail Transportation
Total: $9.00 million
9000000.00
9000000.00
Ferrocarril Transandino S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10024/peru-rail-project
XM-DAC-903-SPI-10651
International Finance Corporation
Inka Terra, Peru S.A.C.
The Project proactively supports positive environmental development by encouraging environmentally friendly, sustainable tourism activities and may generate more widespread uptake of eco-tourism through replication by others. The Sponsor has a proven track record in development of eco-toursim facilities and dedication to ecological study, development and conservation. The Company has been offering eco- tourism experiences since the mid-1970s, initially with Cuzco Amazonico and more recently with the Machu Picchu Pueblo Hotel. The existing hotels are recognized internationally as locations for scientific research. Furthermore, Inka Terra is in the process of offering ecological study programs that provide academic credit for accredited institutions in the United States. Over the years, the Company has achieved the delicate balance necessary to operate a profitable business while fostering an environment that protects local nature and culture, as well as augmenting scientific studies and ecological awareness of the area. Sr. Koechlin has also contributed significantly to the government''s efforts and awareness of environmental protection. The Project builds on IFC''s cultural heritage and tourism strategies. At several sites, the Project will embody direct, proactive development of cultural heritage through several measures. The project will contribute to the preservation, renovation and interpretation of Inka and Spanish Colonial cultural heritage into the tourist experience. Furthermore, the Project will facilitate the growth of cultural-heritage or nature related travel in a sustainable manner to several regions, including Machu Picchu, Amazonia, and the Andes (Lake Titcaca). The development of higher quality lodging in such areas is expected to encourage increased visitation and, thus, economic benefit to the local areas. The expansion of this Peruvian, private sector, small business will bring related positive impacts on local employment, local training, foreign exchange and tax revenue. IFC Role: Inka Terra does not have access to financing from traditional sources due to its limited size, specialized focus and related ecological undertakings. Despite these limitations, the Company has built up an impressive record of sustainability and growth. By supporting the Company, IFC will allow it to expedite the implementation of its strategy to build a network of eco-tourism lodges. Such a network will enable the Company to offer a broader range of eco-tourism vacation packages and significantly increase its visibility vis-à-vis tour operators and the public in general. This, in turn, will improve the Company''s financial performance and help it build a stronger financial structure for future growth. IFC''s support for this project will also help to publicize the success of the concept, set physical standards for future investments and increase foreign exchange earnings for Peru. Development Impact : Mr. Jose Koechlin and Inka Terra have shown that eco-tourism is an effective mechanism for balancing conservation and social development opportunities with commercial reality and demands. The proposed Project will help them to build on their successful experiences in the Amazon and elsewhere in Peru. By promoting sustainable tourism in a culturally and ecologically sensitive environment the Project could potentially have wider beneficial impacts through replication by others. The Project is also expected to contribute to Peru''s tourism infrastructure by providing international standard accommodations in a variety of important tourist destinations throughout the country, thereby attracting more visitors, more foreign currency spending and more jobs. Meanwhile, traditional culture and other natural elements will be preserved. Additionally, the Company will upgrade its human capital by imparting professional training to its employees, and providing life style changing career paths in the hospitality industry.
INKA TERRA PERU S.A.C.
Sr. Jose Koechlin, Presidente 422-6574 Inka Terra Andalucia 174 Miraflores-Lima-Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project will include expansions at several sites, including: the Machu Picchu Pueblo Hotel in Aguas Calientes, Peru (existing); Cuzco Amazonico Pueblo Hotel near Puerto Maldonado, Peru (existing); Cusco Pueblo Hotel (existing structure) in Cuzco, Peru; Machu Picchu Pueblo Lodge on the same site in Aguas Calientes, Peru (new); Concepcion Pueblo Hotel, near Puerto Maldonado, Peru (existing structure) and the Puno Pueblo Hotel (new) in Puno, Peru. Two of the projects will be the renovation of existing structures, two will be additions to existing lodges, and two will be entirely new structures. The projects are located in a wide array of sites, ranging from the Madre De Dios rain forest to the center of Cuzco.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AD - Tour Operators (i.e., Arranging and Assembling Tours)
Total: $8.00 million
8000000.00
8000000.00
INKA TERRA PERU S.A.C.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10651/inka-terra-peru-s-a-c
XM-DAC-903-SPI-10730
International Finance Corporation
Interseguro Compania de Seguros de Vida S.A.
The project is to invest up to US$4 million in equity for up to 15% of Interseguro. Interseguro was founded in 1998 as an initiative of Interbank Group to take advantage of the high growth expected in the life insurance business in Peru. As with all relatively new and growing life companies, Interseguro is posting net losses as it builds technical reserves against its portfolio of policy liabilities. IFC''s investment will provide additional capital to support Interseguro through this critical growth stage. It is an opportunity for IFC to provide continued support to private pension reform and contractual savings as Interseguro provides the "next step" (through its annuity product) for members of the private pension plans as they retire. It will also be an opportunity for IFC to support greater corporate governance through its possible participation on Interseguro''s Board.
Interseguro Compania de Seguros de Vida S.A.
The Chairman Interseguro Compania de Seguros de Vida S.A. Av. Felipe Pardo y Aliaga No. 640, 4th Fl. San Isidro, Lima 27, Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Interseguro is headquartered in Lima and has eight branches nationwide (in the South: Arequipa, Ilo, Ica; North: Trujillo, Piura, Chiclayo, Chimbote; North-eastern: Iquitos), and a commercial branch in Lima (Av. Dos de Mayo 1798, San Isidro, Lima).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
JA - Life Insurance
Total: $4.00 million
4000000.00
4000000.00
Interseguro Compania de Seguros de Vida S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10730/interseguro-compania-de-seguros-de-vida-s-a
XM-DAC-903-SPI-10894
International Finance Corporation
Tecnofil S.A.
With total estimated assets of US$24 million and net sales of approximately US$30 million for FY2000, Tecnofil is one of Perus most important producers of copper and copper alloy semi-finished and finished products (electrical bars, connection flats, wire, hardware "nuts and bolts" type of products, solder, copper sulfate for the mining and fertilizer industries). The company started operations in 1975 and in the past four years has modernized its operations and significantly increased its exports. The company would like to obtain IFC financing to fund: (i) an expansion in its production capacity; (ii) the continuation of the implementation of modern technology to their production processes; and (iii) the refinancing of short term debt. The project will increase their production capacity by approximately 50% from around 15,000 to around 23,000 tpa. This will be very beneficial for operating costs, as the project will enjoy economies of scale, and production campaigns will be longer and more cost-effective. More importantly, Tecnofil will switch completely to a modern ''continuous casting'' technology thereby increasing the company''s efficiency. Tecnofil needs the new technology to continue their modernization and maintain their growth pace, be able to compete internationally and comply with more demanding quality requirements from more sophisticated clients. IFC will play an important role in this project by: - Providing access to long term funds : The current political crisis has affected the Peruvian economy and to a large extent its financial sector. Given the characteristics of the project and the fact that high capital investments are inherent to the industry, the project requires long term funding currently unavailable in the local market. - Increasing the companys financial viability : As a result of the project, the company will be able to access new markets, compete internationally with multinational enterprises and increase profitability. With the support from its sponsors and proactive management skills, the company has been able to turnaround its operation and financial viability including the establishment of long term contracts that assure higher sales. However, the inability to obtain adequate financing has prevented them from undertaking the proposed expansion and has increased the threat of losing the position they have built up in their markets, something that can be resolved with an investment by the IFC. Development Impact: -IFC''s investment will create a "demonstration effect" to highlight attractive investment opportunities that will foster growth in Peru. -Tecnofils exports will provide the country valuable access to foreign exchange. At project completion the company would be exporting approximately US$50 million annually. -Tecnofil is one of the few companies that adds value to the copper mined in Peru through further processing. This type of value-added work allows Peru to generate higher income from its natural resources.
Tecnofil S.A.
Mr. Martin Majluf, General Manager Isidro Bonifaz 471 Independencia Lima, Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project will be executed at the same site as Tecnofil''s production plant, in an industrial zone in Lima, Peru.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AF - Other Miscellaneous Fabricated Metal Products (Including Non-Wood Housing Products, Tanks, Cutlery, Kitchen Utensils and Handtools, etc.)
Total: $7.40 million
5400000.00
2000000.00
5400000.00
Tecnofil S.A.
2000000.00
Tecnofil S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10894/tecnofil-s-a
XM-DAC-903-SPI-11007
International Finance Corporation
Gloria, S.A.
Gloria, S.A. is a Peruvian company with three main business divisions: food, paper products and pharmaceuticals. It also has investments in the cement industry through its subsidiary, Cemento Yura, S.A. In 2000, Gloria reported sales of US$226.6 million. The food division (90% of sales) is primarily involved in the production, sale, and distribution of dairy products including evaporated, condensed, and UHT milk, yogurt, and cheese. The company also distributes canned fish and fruit juices with its Gloria brand name. The pharmaceutical division (5% of sales) produces and distributes a range of drugs and cosmetic products. The paper division (5% of sales) manufactures corrugated board, boxes and liner. Gloria has had a leadership position in the Peruvian dairy industry for 50 years. It was founded in 1941 in Arequipa, Peru, as Leche Gloria, S.A. with majority ownership by General Mills company of the U.S. and subsequently by Nestle. The present shareholders acquired the company in 1986 from both local shareholders and from Nestle, and have since progressively grown the business into its present more diversified profile. In 1998, the company started a strategic investment program (the project) whose main objectives were to (i) consolidate and rationalize its dairy sector operations into a new production facility in Huachipa, near Lima; (ii) build a new UHT plant; (iii) expand domestic milk collection; and (iv) upgrade its paper division with a new plant in Huachipa. The project will allow Gloria to expand northward from its traditional base in Arequipa, southern Peru, bringing it closer to its main consumer markets. Development Impact: IFCs support of Gloria will have a positive development impact in Peru in three areas: First , the project will support rural farmers serving the Peruvian dairy industry with technical assistance ( Gloria assists its suppliers by providing technical assistance including breeding stock improvements, cattle nutrition to improve quality and yields; veterinary services) and reliable market access with guaranteed daily milk collection and regular payments; Second , IFC will support an important Peruvian employer: the company has 1,720 employees and its operations are highly integrated, extending into many remote and rural communities. The company works with 15,000 farmers, most with less than 10 head of cattle; only 5% of Gloria''s suppliers have more than 100 head of cattle; and Third : Gloria''s activities will increase the consumption of safe, quality, pasteurized milk in rural areas in Peru by making available both canned and UHT products (which require no refrigeration and have a long shelf-life) through its extensive distribution network. Perus milk consumption has shown an increased trend, but it is currently only 58 liters per capita p.a., compared with the FAO recommended level of 121 liters per capita, p.a. ( source: USDA Peru: Dairy situation 2000 ). Finally, Peru is a milk deficit country. The project will help further develop the Peruvian dairy industry, and the government of Peru is encouraging greater domestic milk collection and dairy production as a way of reducing milk imports. IFC Role : Among its other contributions, IFC will provide Gloria with long-term financing currently not available locally. Gloria embarked on its strategic investment program prior to Peru''s financial distress of 1999 and political crisis of 1999-2001. Due to recession and political uncertainty in Peru, the company approached IFC for long-term financing on terms not available locally. The company requires adequate tenor given that it has entered a consolidation phase in which it will integrate new assets and complete the rationalization of its operations between its traditional southern base in Arequipa and its new plant in Huachipa, Lima.
Gloria S.A.
Francis Pilkington, CFO, Grupo Gloria Address: Av. Republica de Panama, 2461 Sta. Catalina, Lima PERU Phone: (511-470-7170) Fax: (511-470-9837)
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project site is primarily Gloria''s newly constructed production facility in Huachipa, near Lima, Peru. The new plant is located on a 10 hectare site as part of a larger, 31 hectare property in the district of Ate Vitarte, a suburb of Lima with good infrastructure and transportation routes.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AI - Other Food
Total: $25.00 million
25000000.00
25000000.00
Gloria S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11007/gloria-s-a
XM-DAC-903-SPI-11026
International Finance Corporation
ISA Peru, S.A.
The project company, ISA Peru, was incorporated in May 2001. ISA Colombia, both directly and through its majority ownership of Transelca, S.A. ESP, owns the majority of the shares of ISA Peru. ETECEN, one of Peru''s national transmission companies, is a minority shareholder. The project consists of the engineering, construction, ownership and operation of two high-voltage transmission lines in central Peru under a concession awarded through an international tender in February 2001. The venture is part of the government of Peru''s broader program to expand electricity transmission access, improve the national grid''s stability and overall reliability, and to evacuate power from a new generation facility. Specifically, the project will: link Pucallpa, Peru''s most important town in the Amazon region with a population of about 240,000 people, to the national power grid, thus displacing currently utilized more expensive thermal generation, complete an alternative route for transmitting electricity to Lima and its surrounding areas, reducing technical losses and improving the overall reliability of the national grid system, reinforce power supply to mining centers in central Peru, where demand for power is growing as a result of new mining projects being developed, evacuate power from the Yuncan hydroelectic power plant, a 160 MW generation facility expected to commence operations in late 2002; and provide the base for the planned expansion of the national interconnected system to the north, thus allowing the grid to reach a larger proportion of Peru''s population and eventual interconnection with Ecuador. The government of Peru has only recently begun to privatize transmission assets. IFC''s support is particularly important to demonstrate that these types of projects can be financed on a project finance basis, a development which has yet to be realized in Peru. Additionally, infrastructure projects require long-term financing. IFC''s presence in this financing will provide comfort to other investors and potential lenders, facilitating the provision of long-term financing at a time when such financing is not easily accessible.
Interconexion Electrica Isa Peru S.A.
Gustavo Adolfo Sanchez Rengifo, Gerente General Interconexion Electrica ISA Peru S.A. Avenida Larco 1301 Torre Parque Mar Oficina 1501 Miraflores, Lima Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The proposed investment will be located in central Peru. The first power line (242 km in length) will be located in the high sierra Andes mountains and runs through areas of mostly idle land and pastures. The second power line of 131 km will be located in the lowlands of the Amazon basin east of the city of Antamina and will pass through primarily pastures, orchards and croplands.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
DA - Electric Power Transmission
Total: $18.00 million
18000000.00
18000000.00
Interconexion Electrica Isa Peru S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11026/isa-peru-s-a
XM-DAC-903-SPI-11108
International Finance Corporation
MIBANCO, Banco de la Microempresa S.A.
Mibanco provides financing primarily to micro-enterprises, but also extends consumer and commercial credit. Financing includes working capital, fixed assets, personal use and home mortgages. It is a rapidly expanding microfinance institution and as of March 2001, it had over 63,000 clients and a total loan portfolio of approximately US$40 million. The proceeds of the proposed IFC investment would be used for on-lending to microfinance recipients in Peru, in particular micro-enterprises to whom Mibanco extends most of its credit. In the short-term the investment will allow Mibanco to continue its portfolio growth and expansion; however, the medium-term goal is to help the bank directly access the market to fund its operations. Small and micro-enterprises in Peru are vital to the economy. Estimates put the two together at 98% of firms, which generate 75% of national employment and 45% of the countrys total GDP. Unfortunately these sectors suffer from lack of access to and high cost of financing. Estimates indicate that less than 15% of small and micro-enterprises have access to the formal financial sector. The development impact of this transaction lies primarily in providing financial services directly to poorer segments of the population and to savers and borrowers who do not have access to the formal financial sector.
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
To contact the company please write to Manuel Montoya MIBANCO- Banco de la Microempresa S.A. Paseo Colón N 280, Lima 1 PERU Phone: (511) 424-4646 Fax: (511) 424-2913 Email Address: mibanco@mibanco.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Mibanco is headquartered in Lima, Peru. It has a total of 26 branches throughout the Lima region and has recently begun to expand into other areas of the country. The proposed investment will provide microfinancing to recipients throughout Mibancos field of operations. The banks objective for 2001 is to open a total of 4 branches, compared with 6 opened in 1999 and 5 opened in 2000. Of Mibancos 5 new branches opened in 2000, 2 were in Lima while 3 were in other major cities, including one in the south of Peru in Chincha an area important to the agrofishing sector; a second in Chiclayo, Lambayeque; and a third in Huancayo, Junin.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AC - Commercial Banking - Microfinance and Small Business
Total: $5.00 million
5000000.00
5000000.00
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11108/mibanco-banco-de-la-microempresa-s-a
XM-DAC-903-SPI-11664
International Finance Corporation
TIM Peru S.A.C.
The project consists of the expansion and upgrade of TIM Perus cellular network, the third largest in the country, to increase capacity and population coverage, improve quality and reliability, and offer more value added services. The company acquired its mobile license in May 2000 through a competitive bidding process and launched initial service in January 2001. As of end-August 2002, TIM Peru had over 300,000 subscribers. TIM Peru intends to expand the availability of mobile services to a larger part of the population, particularly through the aggressive use of prepaid services, which are typically more affordable. Further, the increase in mobile penetration resulting from the expansion of a third operator will foster greater competition in the Peruvian telecommunications sector, thereby increasing access to reliable and affordable telecommunications and other value added services. IFCs role is to provide long-term financing to the company at a time when financing flows to telecommunications companies in emerging markets have receded due to a global downturn in the sector.
America Movil Peru S.A.C.
Av. Carlos Villaran 140 Piso 10, Santa Catalina, La Victoria, Lima, Peru E-mail mundotim@mail.tim.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The company is headquartered in Lima, Peru, and operates a nationwide GSM 1900 cellular network (in 13 of the countrys 24 departments, which include Lima and 13 other major cities).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AC - Mobile Telephony
Total: $70.00 million
70000000.00
70000000.00
America Movil Peru S.A.C.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11664/tim-peru-s-a-c
XM-DAC-903-SPI-20050
International Finance Corporation
Norvial S.A.
In April 2001, the Government of Peru (GoP) opened an international bidding for the Ancon - Huacho - Pativilca section of the Panamericana highway. Five consortia were prequalified, three presented a technical proposal, and two presented an economic proposal. The consortium led by Graña y Montero S.A.A. [G&M] (which included JJC Contratistas Generales S.A. [JJC]) offered the highest canon and won the bid. Norvial S.A. was established in October 2002 and signed a Concession Agreement with the GoP in January 2003.
The project is to expand, improve, operate and maintain the Ancon Huacho Pativilca section of the Panamericana highway (the toll road) over a 25-year period. The toll road is used to travel to and from cities and towns along the Pacific coast north of Lima, including Huaral, Huacho, Supe, Barranca and Pativilca. It provides important activities - such as industrial manufacturing, agriculture, mining and fisheries access to Peru's main port (Callao) and to Lima. In the first 2½ years of the concession, main investments include:
- construction of two bypasses (1+1 lane) with a total length of 34 km,
- construction of two bridges with a total length of 587 m,
- construction of two interchanges, and
- rehabilitation in different sections of the highway.
NORVIAL SA
Gonzalo Ferraro, General Manager,
Paseo de la Republica 4667,
Lima 34, Peru.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project is an existing road located north of Lima, between Ancon, Huacho and Pativilca, on a section of the Panamericana highway between km 44 and km 204. Between km 44 and km 75 the road is split in two links:
- the Pasamayo Serpentin, a single carriageway road, 22 km long and
- the Pasamayo Variante, a dual carriageway, 31 km long.
At km 75, the two links merge into a dual carriageway road until km 147 in Huacho, where the road profile changes from dual to single carriageway until Pativilca (km 204). The road crosses rural areas as well as some urban areas between Huacho and Primavera (km 147 to km 161) and between Supe and Pativilca (km 185 to km 204).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BC - Highway Operations (Includes Toll Roads)
Total: $18.00 million
18000000.00
18000000.00
NORVIAL SA
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/20050/norvial-s-a
XM-DAC-903-SPI-22033
International Finance Corporation
Ransa Comercial S. A.
Ransa Comercial S. A. (Ransa or the company) is an integrated logistics service company based in Lima, which specializes in handling, storage, and distribution of grains, frozen food, and other general cargoes as well as providing services such as in-bond warehouses, shipping agency, stevedoring services, and trucking. Ransa is the market leader in the distribution and storage business in Peru. It is a 100% subsidiary of the Romero Group. In 1999 IFC approved a $10 million loan (IFC/R99-116) for Ransas expansion and improvement of operating efficiency; as of December 31, 2004, $6.25 million remains outstanding to IFC.
Ransas consolidated USD revenue has grown at an average of 15.2% p.a. from 2000 to 2003, storage volume has increased by 7.8% p.a. for the same period. To accommodate this growth Ransa has been leasing space from Minka, a sister company operating wholesale and retail space in Lima. Minka has given notice to Ransa that it will terminate the lease in 2004.
As a result of the lease termination, and to accommodate future growth, Ransa has now decided to embark on a capacity expansion project consisting mainly of the following components:
- the construction of a 13,500-m² warehouse for general merchandise,
- the construction of a 15,000-m² warehouse for distribution, and
- the acquisition of a 86,600-m² plot.
In addition the project includes investments in MIS, other capital expenditures, and debt refinancing.
Ransa Comercial S.A.
Marco Polastri
Sub Gerente Financiero
Jr. Chinchon #944, 3rd floor
San Isidro, Lima
Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Project funding will be directed to investments in Callao, Peru. The investment will be made at Ransas 245,000 m² main operating complex located in Callao, close to the Limas international airport and the Callao sea port.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
CA - Storage (Including Agricultural Products)
Total: $10.00 million
10000000.00
10000000.00
Ransa Comercial S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/22033/ransa-comercial-s-a
XM-DAC-903-SPI-22412
International Finance Corporation
EDYFICAR Project
EDYFICAR (or the company) is a microfinance institution that provides basic credit services to low-income populations in Peru. It serves approximately 32,000 clients, of whom approximately 50% are women, 25% live in rural and semi-rural areas, and about 30% live below the countrys poverty line. Its main product lines are working capital loans, business improvement loans, and a relatively modest portfolio of housing loans. EDYFICAR, which is constituted as a private stock company, obtained a limited banking licenses in 1998 from the Peruvian Superintendency of Banking and Insurance. It operates 18 branches in various regions of Peru.
The purpose of IFCs financing is to support the continued expansion of EDYFICARs loan program to low-income microentrepreneurs throughout Peru. In addition to allowing an expansion of EDYFICARs loan program, IFCs financing will enable the institution to diversify its funding sources and provide a greater range of medium-term loan products, something greatly demanded among the clients served by EDYFICAR.
Empresa Financiera Edyficar S.A
EDYFICAR S.A.
Av. General Córdova 591, Urb.Sta.Cruz
Miraflores, Lima, PERU
EMAIL: webmaster@edyficar.com.pe
WEB: http://www.edyficar.com.pe/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
EDYFICAR is headquartered in Lima, Peru and serves its clients through 18 branch offices in different regions of Peru. IFCs investment can be used to fund EDYFICARs loan activities in any of its branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AC - Commercial Banking - Microfinance and Small Business
Total: $4.00 million
4000000.00
0.00
4000000.00
Empresa Financiera Edyficar S.A
0.00
Empresa Financiera Edyficar S.A
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/22412/edyficar-project
XM-DAC-903-SPI-23010
International Finance Corporation
Drokasa PCG
Corporación Drokasa S.A. (the Corporación or the company) is a leading Peruvian agricultural and industrial conglomerate with three core activities: - the manufacture, marketing and sales of pharmaceutical products; - the production and export of asparagus and table grapes; - and the importation and distribution of chemicals, agrochemical, liquors and health and beauty products. The purpose of the project is to finance maintenance capital expenditure as well as to refinance Corporación and its subsidiariess outstanding short-term and long-term debt. The project will be funded through two components: - the issuance of a $25 million equivalent bond and a $5.0 million commercial paper program; and - Corporacións internal cash generation. The existing debt is the result of a restructuring underwent in 2000 and currently imposes high interest rates and administration costs as well as covenants that inhibit long-term growth.
Corporacion Drokasa S.A.
Mr. Max Bromberg Dubreuil, General Manager Drokasa Peru S.A., Carlos Alaysa y Roel 2180, Lima 14, Peru.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Corporacion Drokasas farms are located in Ica. The Corporación has its distribution centers and a pharmaceutical manufacturing plant in Lima.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AF - Fruits and Vegetables
Total: $10.00 million
10000000.00
10000000.00
Corporacion Drokasa S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/23010/drokasa-pcg
XM-DAC-903-SPI-23545
International Finance Corporation
USMP Bond Issue
Universidad San Martín de Porres (USMP) is the largest private university in Peru, providing education to more than 27,000 students, mostly from the lower-middle income segment of the student market. USMP is issuing a $30 million bond of up to 7-year maturity. The proceeds will be used to partially finance USMPs $34 million modernization program, consisting of:
- expansion of the Communication Sciences campus;
- construction and equipment of a new building for the Universitys dentistry school;
- upgrade of the existing facilities of the University clinic; and
- restructuring of an existing syndicated loan.
Universidad San Martin de Porres
Oscar Manuel Becerra Tresierra, Director Planning
Universidad San Martín de Porres
Av. Las Calandrias s/n, Santa Anita, Lima, Peru
Phone: (51-1) 362-0064
Fax: (51-1) 478-2300
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
USMPs 9 faculties are housed at 14 different locations in Lima. All of them are in residential neighborhoods and have easy access to public transportation. Two new plots of land have been purchased for the expansion of the Communication Sciences campus (in the La Molina neighborhood) and for the construction of a new building of the Dentistry school (in Surquillo).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Colleges, Universities, and Professional Schools
Total: $10.00 million
10000000.00
10000000.00
Universidad San Martin de Porres
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/23545/usmp-bond-issue
XM-DAC-903-SPI-24759
International Finance Corporation
Mibanco III
The proposed project involves a $29 million loan to Banco de la Microempresa S.A (Mibanco), Perus largest specialized microfinance institution. Mibanco offers its 165,000 clients, a majority of which live below the poverty line, a range of financial services, including working capital loans, credit cards, consumer loans, savings accounts, term deposits and checking accounts. Mibanco employs over 1,800 staff, and has a branch network consisting of 65 offices located in Lima and seven other regions of the country. Mibancos average loan balance is approximately $1,300 equivalent, and over half of these loans are to women. The project is expected to: - diversify Mibancos funding base; - provide it with longer term financing; - expand its loan portfolio; and - offer longer maturities to its microenterprise clients.
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Mibanco Domingo Orue 165 Surquillo Lima Peru Attention: Ricardo Gordillo Email: rgordillo@mibanco.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Mibanco is headquartered in Lima and has a branch network of 65 offices located in Lima and seven other regions in the county. IFCs investment can be used to fund loan activities in any of the branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AC - Commercial Banking - Microfinance and Small Business
Total: $29.00 million
29000000.00
29000000.00
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24759/mibanco-iii
XM-DAC-903-SPI-24873
International Finance Corporation
Agrokasa Expansion
Sociedad Agricola Drokasa S.A. (Agrokasa or the company) was established in 1996. Agrokasa is a leading grower and exporter of asparagus and table grapes in Peru accounting for 16% of Perus fresh green asparagus exports and 29% of its table grape exports. The company makes use of Perus natural comparative advantages and focuses exclusively on premium export markets in the northern hemisphere.
In November 2005, in an open bidding process, the company purchased the assets of Agro Guayabito en Liquidacion, an existing asparagus operation in Barranca and Supe, 200 km North of Lima . The project consists of the purchase, refurbishment and upgrading of these assets in order to not only increase asparagus production but to also produce avocados.
The IFC Loan will support Agrokasas increase in revenues from asparagus exports and build on its nascent production of avocados, while continuing to diversify its markets.
Sociedad Agricola Drokasa S.A.
Mr. Carlos Arrese, General Manager
Sociedad Agrícola Drokasa S.A.,
Carlos Alaysa y Roel 2180,
Lima 14, Peru.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Agrokasas farms and packing plants are located in Ica, Barranca, and Supe.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AF - Fruits and Vegetables
Total: $15.00 million
15000000.00
15000000.00
Sociedad Agricola Drokasa S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24873/agrokasa-expansion
XM-DAC-903-SPI-506050
International Finance Corporation
GEF Inka Terra
Although ITA is a relatively new organization, it contains highly capable and dedicated staff who have been working on biodiversity conservation in Peru for many years. The staff members have undertaken various conservation projects in conjunction with the Missouri Botanical Garden. These have included, for example, an orchid conservation initiative and a reforestation project for cock of the rock habitat. ITA staff members have also implemented a conservation project for the spectacled bear and collaborated on a biological research endeavor with the University of Kansas. This project aims to achieve long-term conservation of the 10,000 hectare Inka Terra Ecological Reserve and its many species of flora & fauna. The specific objectives include the following: -1 To develop a Forest Conservation and Management Plan that properly zones the reserve based upon a solid understanding of its ecology; -2 To develop partnerships with the four local communities so they can improve their quality of life while helping to preserve the forests; -3 To promote increased support for forest conservation and sustainable development through training programs; and -4 To generate long-term funding for conservation through development of new ecotourism attractions.
UNKNOWN
Jose Purisaca Jirón Andalucía N 174 Miraflores, Lima 18, Peru Fax: (511) 422-4701
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
This project will be implemented in conjunction with Inka Terras Reserva Amazónica lodge in southeastern Peru. Reserva Amazónica has been in operation for over 25 years and was one of the first eco-tourist facilities developed in Peru. The Reserva Amazónica lodge was formerly known as Cusco Amazónico. During much of this time, Inka Terra has leased a 10,000 hectare area of tropical rainforest located adjacent to the lodge. Known as the Inka Terra Ecological Reserve (IER), the company has supported considerable ecological research within this reserve. The studies carried out to date in the reserve have identified considerable biological diversity, including 136 species of mammals, 366 species of birds, 83 species of reptiles, and 362 species of ants. Many of the species of flora and fauna in the reserve were discovered there and some have not been found elsewhere in Peru. Despite Inka Terra S.A.s desire to promote forest conservation, the IER has remained largely unmanaged because the company has been largely occupied with running its tourism operations. Although Inka Terra S.A. possesses staff members with considerable conservation experience and expertise, until recently these individuals faced conflicting demands on their time (between commercial and conservation priorities). In fact, until this project was developed, there had been relatively little diagnosis of the threats to the areas biodiversity. Yet various threats have emerged to the forest. A transcontinental road has been built on the back (north) of the reserve, going to Brazil. Since it is still a dirt road it does not have heavy traffic yet, but it has nonetheless facilitated encroachment upon the reserve. The threat of logging has also been exacerbated by the road. Furthermore, several communities have arisen on the border of the IER. Finally, mercury pollution from gold mining in the Madre de Dios River is threatening aquatic biodiversity (as well as human health).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
Other (For Non-Investment Projects)
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/506050/gef-inka-terra
XM-DAC-903-SPI-506393
International Finance Corporation
Ranching Dendrobates
The proposed project will establish a business that will sustainably breed, harvest and export Poison Dart Frogs (PDF''s) that live in the rainforests of Peru. These frogs, which are spectacularly colored and display an interesting behavior, fetch a high price in the international pet trade. The U.S.A, Europe and Japan have steadily growing PDF markets. The production method only functions in standing forests. It was invented after meticulous study of the frogs breeding cycle. The female glues her eggs onto a leaf, above the ground in a tree. When the tadpoles hatch, the male puts them on his back and carries them to water, typically in the crook of a leaf. The female then raises her young by feeding them unfertilized eggs. Research has shown that the limiting factor of the population is the number of suitable breeding sites. The production method consists of placing artificial breeding sites in the frogs natural habitat. These greatly enhance breeding success, thereby allowing the "surplus" of PDFs to be harvested from the bottles, put in grow-out cages on the forest floor, and then exported as juvenile frogs. Although the economics of the business appear to be strong, its novel and unprecedented nature makes it difficult to obtain standard commercial finance. Although this proposal recently won the World Bank''s Innovation in the Marketplace competition, additional funding is needed to fully capitalize the business and carry out essential preparatory activities (e.g., training of customs officials). Therefore, IFC has submitted a proposal to the GEF it order to help catalyze this exciting new venture. In doing so, IFC will make an important contribution to global efforts to find viable ways to monetize the economic value inherent in biodiversity in a manner that encourages conservation of biodiversity resources. The frog export business with expected annual revenues of about $300,000 in Year 3 will provide supplemental livelihoods to more than 250 campesinos and give them an incentive to preserve over 15,000 hectares of tropical forest.
UNKNOWN
Mr. Luis Dalmau Gutsens, Tarapoto Office Director Asociación CURMI Jr. Gregorio Delgado 249-265 Tarapoto, Peru Email: ldalmau@tinet.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
This project will aim to sustainably produce poison dart frogs in over 250 production lots covering more than 3,000 hectares near Iquitos, Tarapoto, and Pucallpa. Nearly 80% of the lots are situated in buffer zones of national parks and reserves; one lot is located inside a protected area; the rest are found in unprotected forests located outside of buffer zones.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BD - Other Animal Production
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/506393/ranching-dendrobates
XM-DAC-903-SPI-9955
International Finance Corporation
Universidad Peruana de Ciencias Aplicadas, S.A.
Universidad Peruana de Ciencias Aplicadas, S.A.C is a successful private university offering undergraduate and postgraduate courses in the sciences, business, engineering, architecture and law. UPC was founded in 1994 as a private, non-profit academic association in the wake of increasing liberalization by the Peruvian government which included initiatives to improve the quality of education. In June 1999, it became the first educational establishment in Peru to be privately owned and run on a for-profit basis as a Sociedad Anonima, a possibility rarely found in Latin America. UPC has shown impressive 50% p.a. enrollment growth since its inception and today ranks as one of the top five private universities in Lima. UPC''s consolidated revenues amounted to approximately US$18 million in 1999. In or der to accommodate its growing enrollment and enhance its profile and competitive position in the Peruvian higher education market, UPC has embarked on a new investment program to expand, rationalize and modernize its facilities. IFCs participation will play a critical role in the UPC project in the following areas: Support for a viable private university : IFC would support a financially viable private university during a critical period of development, given its rapid enrollment growth, its recent merger with Cibertec, and the new dynamics in the higher education market in Peru following regulatory changes which permit private universities to operate on a for-profit basis. With its evolving portfolio of education investments in Latin America, IFC is well placed to support UPC during this period of transition. Provide long-term financing : UPCs management attempted to raise financing in local markets in 1998-1999. However, beyond the financial market distress which characterized 1999 and led to a retrenching of commercial banks from term lending, education remains a sector with which financial institutions are poorly acquainted and reluctant to invest. Two domestic commercial banks contacted, while interested in supporting UPC, eventually declined to provide any long-term funding at any price due to the external crisis and lack of liquidity in Peru. While UPC funded most of its early growth gradually through internal cash, the funding demands upon UPC have accelerated due to its rapid growth. IFCs involvement will allow UPC to implement its imminently needed capital investment program in a timely way with financing on appropriate terms. IFCs support of UPC would have a development impact in three areas. First, the project will contribute to enhance the quality and efficiency of the education sector in Peru. Secondly, the project will have an important demonstration effect. Finally, UPC''s individual impact will be leveraged by its place within the World Banks strategy which seeks a systematic reform of Perus educational system, making the UPC project particularly timely.
Universidad Peruana De Ciencias Aplicadas S.A.C.
Please fax request to IFC''s Latin America and Caribbean Department (202) 974-4392 (USA).
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project is located in Lima, Peru and will focus on two sites: a) UPC''s Salaverry campus located in San Isidro. The site is a mixed-use residential and business area where a new five story building is being constructed to house the UPC Business School and Cibertec; and b) UPC''s main campus in Monterrico. This is a low density, primarily residential neighborhood, where a new four-story building will be built adjacent to the existing buildings to upgrade and expand UPCs existing campus and accommodate new classrooms and labs.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Colleges, Universities, and Professional Schools
Total: $7.00 million
7000000.00
7000000.00
Universidad Peruana De Ciencias Aplicadas S.A.C.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9955/universidad-peruana-de-ciencias-aplicadas-s-a
XM-DAC-903-SPI-24051
International Finance Corporation
Laredo Exp Project
Empresa Agroindustrial Laredo S. A. A. (Laredo or the company) is one of the most competitive and fourth largest sugar producer in Peru. The project entails providing a corporate loan to Laredo to finance its capital expenditure program, which includes: - the cultivation and planting of sugar cane on sand dunes, and - the expansion of the companys milling and refining capacity. The project will allow Laredo to increase its sugar production and improve its productivity.
The project will strengthen the international competitiveness of a successful private company and reduce the countrys reliance on imports by lowering sugar production costs. The company will introduce innovative irrigation methods to convert unused desert land into agricultural land, which, if successful, could be utilized by other local companies to turn arid land into productive use. The project will also result in additional job opportunities (about 340) in an area where the company remains the principal source of employment. The project will benefit its financiers, the companys employees, through the employee profit sharing program, and the government through taxes.
Agroindustrial Laredo S.A.A.
Alberto José Otoya Dussán, General Manager Telephone: 5144-445028 Fax: 5144-435010 Avenida Trujillo S/N Laredo, Trujillo, Peru Website: www.agroindustriallaredo.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The company owns several sugar cane fields and a sugar mill located near the city of Trujillo, approximately 560 km north of Lima, Perú.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Sugar and Confectionery
Total: $18.00 million
18000000.00
18000000.00
Agroindustrial Laredo S.A.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24051/laredo-exp-project
XM-DAC-903-SPI-24346
International Finance Corporation
Block Z-1 Project
BPZ Energy, Inc. (BPZ) is developing an integrated gas-to-power project in northwest Peru, near the border with Ecuador. The project is designed to produce gas from their current gas reserves offshore and generate electricity for the growing demand for electricity in northern Peru.
The project involves: refurbishment of an existing platform located offshore in the Corvina field in Block Z-1 some 10 miles from shore; rehabilitation of an existing suspended well and initially the drilling of two new producing wells at the platform location; installation of a 10 diameter pipeline to transport gas from the platform to shore; construction and operation of a gas processing plant capable of processing 125 million standard cubic feet per day (MMSCFD ) and a 160 MW single cycle gas power plant with initial gas supply requirements of 40 MMSCFD.
The platform upgrade program began in September 2005, with drilling starting in September 2006. Construction of the pipeline, the onshore gas processing plant and power plant is scheduled to begin in early 2007 with first power generation anticipated in October 2007.
BPZ is planning in the future to supply gas from the Corvina field to third party power generators in south west Ecuador via a 40 mile pipeline to be constructed. The expansion for supplying Ecuador will also include drilling two additional producing wells.
- Monetization of Natural Gas & Creation of Gas Markets:
This project will support the monetization of hydrocarbons, particularly stranded natural gas reserves, in Peru. It will not only explore, develop and produce natural gas, but will also create regional markets for natural gas. Peru and Ecuador are two countries that are both desperate to increase their gas and electricity supplies. BPZs project will directly increase electricity supplies in Peru through the construction of the Caleta Cruz power plant, and will potentially increase electricity supplies in Ecuador by selling natural gas to power producers in Arenillas.
- Contribution to Peruvian Government Revenue:
The project facilitates the production and sale of gas and, possibly, liquids, which provide an important source of revenue to the country through royalties and taxes.
- Creating Local Employment and Sourcing in Peru:
The project will create direct new employment opportunities in Peru associated with the exploration and development of Block Z-1, construction and maintenance of the Caleta Cruz power plant and the potential construction of the pipeline to Ecuador. The project will also have an impact on secondary employment through services provided by local contractors.
- Fuel Substitution and Transmission System Stability:
Since most thermal capacity in both Peru and Ecuador is diesel generated, IFCs support of the project will help to substitute the more expensive and more polluting imports of diesel and fuel oil for clean natural gas in both countries. The project will reduce transmission constraints by reversing the flow of electricity from South to North. The plant will also have an important role for providing stability to the system through its location at the end of a long line in the transmission network.
- Community Development:
BPZ has designed a Social Development Plan (SDP) and will commit approximately $250,000 annually to support this effort. The main components the SDP plan is to cover are: educational and training programs for the communities in worker capacity development, micro enterprise development and health and nutrition; basic needs and infrastructure development projects; the generation of alliances and partnerships for the implementation of long-term development projects particularly relating to health and education; and meeting local philanthropic needs. Early implementation of some SDP programs has already begun to benefit the local communities (for more details, see the ESRS).
IFC plans to monitor the following development impacts:
- employment;
- local/national purchasing;
- payments to regional governments; and
- investments in community programs.
BPZ RESOURCES INC
Manuel Pablo Zúñiga-Pflücker, President & CEO
BPZ Energy, Inc.
580 Westlake Park Blvd., Suite 525
Houston, Texas 77079
Telephone: (281) 556-6200
Fax: (281) 556-6377
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The gas-to-power project involves the development of the Corvina gas field, which lies within the Block Z-1 concession area, northwest of the town of Zorritos in Perus northernmost province of Tumbes. The projects ultimate goal is to monetize gas reserves by selling gas and electricity to local and regional markets.
The planned location of the gas processing facility is adjacent to the new power facility, a short distance away from the existing Electroperus 19 MW Power Plant and REPs electrical substation, on a greenfield elevated terrain removed from any urban settlements and with easy existing transportation access. The gas processing facility is designed to handle overall production rates of 125 MMSCFD, from which approximately 40 MMSCFD will be required by BPZs new power plant and 50 MMSCFD will be sold to Ecuador for similar power generation developments. However, maximum capacity of the offshore facilities and the pipeline is 175 MMSCFD to allow for future expansion of both the gas and power plants.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Oil and Gas Production (Includes Development)
Total: $50.00 million
30500000.00
19500000.00
30500000.00
BPZ RESOURCES INC
19500000.00
BPZ RESOURCES INC
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24346/block-z1-project
XM-DAC-903-SPI-24366
International Finance Corporation
Peruvian Home Mortgage Corporation
The project involves a comprehensive financing package from the IFC to support the creation of Perus first secondary mortgage market company, Titulizadora Peruana S.A (TP or the company). Titulizadora Peruana would be an independent, multi-function company with the main business objective of acquiring and securitizing high-quality residential mortgage loans. These would be sourced, initially, from the major mortgage originators in the Peruvian financial system.
The project is expected to have a positive impact on the mortgage market, banking industry, capital markets, housing sectors, and the economy in general. This project would: - Create and establish best international practices and technology regarding mortgage lending and a secondary mortgage market for Peru, - Further develop the Peruvian capital markets by making MBS and TPs debt available for institutional investors, - Support the strengthening of the primary mortgage market in Peru by improving the efficiency of loan origination and standardization of loan files, loan file documents, mortgage loan quality, and new products, - Improve the affordability of housing by lowering the cost of mortgage loans, making longer term funding available, improved pricing and through enhancing the liquidity of mortgage assets, and - Strengthen the banking sector by making available the liquidity facility, adding mechanisms to improve their maturity profiles, term and interest rate risks.
TITULIZADORA PERUANA SOCIEDAD TITULIZADORA S.A.
Marc Tristant, Investment Officer International Finance Corporation 511 611 2515. Av. Alvarez Calderon 185, piso 2 Lima 27, Peru Christian Laub, Corporate Finance Manager BCP, 511 313 2664. Calle Centenario 156, La Molina Lima 12, Peru Mauricio Amador, Vice President for Finance TC, 571 618 3030 ext. 225, Carrera 9A No.99-02, piso 7 Bogota, Colombia
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Titulizadora Peruana would be headquartered in Lima, Peru.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
EB - Secondary Mortgage Institutions
Total: $51.00 million
0.00
50000000.00
1000000.00
0.00
TITULIZADORA PERUANA SOCIEDAD TITULIZADORA S.A.
50000000.00
TITULIZADORA PERUANA SOCIEDAD TITULIZADORA S.A.
1000000.00
TITULIZADORA PERUANA SOCIEDAD TITULIZADORA S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24366/peruvian-home-mortgage-corporation
XM-DAC-903-SPI-24489
International Finance Corporation
Lima Airport Partners S.R.L.
Lima Airport Partners S.R.L. (LAP or the company) owns a build-operate-transfer concession to operate the Jorge Chavez International Airport (JCIA) in Lima, Peru. JCIA is the only commercial airport serving Lima and is Perus primary international airport, serving the vast majority of Perus international passengers. It is also the principal hub for domestic routes in Peru. In 2004, JCIA handled 5.1 million passengers and accounted for an estimated 64% of total air passenger traffic in Peru. The project is to help LAP streamline its shareholding structure, refinance existing debt, and finance its 2006-2008 capital investment plan.
The project supports Perus efforts to improve the quality and efficiency of infrastructure services. As Perus primary airport for international and domestic travel, JCIA is an integral part of the countrys economic and tourist infrastructure. IFCs investment will help ensure that LAP make necessary investments in the airport. This would improve aviation services in Peru and help JCIA develop its potential as a regional hub for passengers traveling in South America and significantly benefit the Peruvian economy and tourism industry. Fraports management will bring airport operation and management know-how and result in an upgrading of skills of the local workforce. Finally, the Projects success will encourage foreign investments and further private sector participation in other airports and infrastructure sectors such as roads and ports.
Lima Airport Partners S.R.L.
The environmental documents will be made available at LAPs offices at the Jorge Chavez International Airport. The Companys address is Jorge Chavez International Airport, Elmer Faucett Ave., Central Building, 9th Floor, Callao, Lima, Peru. Frank Thiesen Fraport AG 60547 Frankfurt Germany 49 69 690 59866 (F)
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
JCIA was built in 1965 and is located 12 kilometers west of Lima, Peru. JCIAs single runway is 3,500 meters long and 45 meters wide and meets ICAO Code 4E requirements. The airport has a total of 23 gate positions, including 7 gates served by passenger loading bridges.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BD - Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)
Total: $20.00 million
20000000.00
20000000.00
Lima Airport Partners S.R.L.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24489/lima-airport-partners-s-r-l
XM-DAC-903-SPI-24892
International Finance Corporation
Edpyme Confianza
The project involves a PEN6.7 million senior loan to Edpyme Confianza (approximately $2.0 million), a specialized Peruvian microfinance institution working with microentrepreneurs in the countrys central highlands, a large portion of whom are located in rural and semi-rural areas. The project will diversify Confianzas funding base and provide it term financing to expand its loan portfolio and offer longer maturities to its microenterprise clients. IFCs financing would enable Confianza to provide approximately 11,000 additional microenterprise loans over the life of the project. As an EDPYME, Confianza is organized as a private stock company operating under the supervision of the Perus Superintendency of Banking and Insurance. Confianza has 167 staff, nine branch offices and currently serves 25,858 clients in the central highland regions of Junín, Huancayo and Ucayali, as well as Lima.
The development impact of IFCs financing to Confianza is expected to be high, as it will support productive microenterprises, employment generation and social equity
Edpyme Confianza
Edpyme Confianza Av. Centenario No. 356 San Carlos Huancayo, Perú Fax: +51 64 211183 Email: confianza@edpymeconfianza.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Edpyme Confianza is headquartered in the city of Huancayo, and provides financial services to microentrepreneurs in surrounding regions (including Lima). IFCs investment can be used to fund loan activities in any of the branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AC - Commercial Banking - Microfinance and Small Business
Total: $2.44 million
2440000.00
2440000.00
Edpyme Confianza
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24892/edpyme-confianza
XM-DAC-903-SPI-25360
International Finance Corporation
B. Continental
The project involves an IFC financing package of up to $130 million equivalent to BBVA Banco Continental S.A. (the Bank or the Continental), one of Perus leading financial institutions. The project would consist of: - a senior loan of up to $100 million (or its equivalent in Peruvian Soles or PEN) with the objective of supporting an expansion of the Banks residential mortgage lending operations in Peru; and - a $30 million credit facility to be used to develop the Banks sustainable lending portfolio, particularly in the areas of supply chain (forestry and timber) and energy efficiency. Continental is the second-largest commercial bank in Peru, offering a wide range of banking services to its more than 200,000 clients. As of March 2006, Continental had a total of 25.26% of the assets of the Peruvian banking system, 26.38% of loans and 24.02% of deposits. The Bank services its clients through a network of 215 branches, 3,023 employees and 336 ATMs. The Bank views the growth of its mortgage operations as one of its strategic priorities and has been marketing this product actively over the last few years. IFCs investment would help support the banks growth strategy by matching the growing asset maturity with a long term financing facility in the same currency.
The project is expected to have a strong developmental impact in the following areas: - it will support Continentals growth plans on the housing finance business, thus expanding the availability of residential mortgages and enhancing home ownership, while stimulating demand for labor, materials and other supplies for the housing industry; - it will improve the financial fundamentals of the Bank by reducing maturity mismatches, and diversifying funding sources; - it will increase access to finance to the SME sector, particularly those in the timber/forestry business and those adopting energy efficiency measures, by engaging in sustainable lending practices which promote economic and environmental benefits.
BANCO BBVA PERU SA
Mr. Eduardo Avila BBVA Banco Continental Av. Republica de Panama 3055 Piso 18 San Isidro Lima 27, Peru E-mail: eavilaz@grupobbva.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Continental is headquartered in Lima and has a branch network of 215 branches across Peru. IFCs investment can be used to fund loan activities through any of the branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AA - Commercial Banking - General
Total: $130.00 million
130000000.00
130000000.00
BANCO BBVA PERU SA
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25360/b-continental
XM-DAC-903-SPI-25374
International Finance Corporation
MiBanco IV - ACP
The project entails supporting the initiatives of ACP Inversiones y Desarollo (the Group or ACP) to strengthen its position in the Peruvian financial sector by: - Creating a new specialized micro-insurance company, focused on micro and small business entrepreneurs and low income families. - Expanding the shareholding base of ACPs portfolio bank, Banco de la Micro Empresas S.A. (Mibanco or the Bank), an existing IFC client and - Providing a subordinated loan to Mibanco to strengthen the Banks capital base and support its growth. Founded in 1969, ACP, formerly known as Accion Comunitaria del Peru, is a Peruvian non-profit organization focused on servicing the educational, business and financing needs of low-income households and micro and small business entrepreneurs in Peru. As of September 2006, the Groups consolidated asset base totaled approximately $360 million, liabilities $314 million, and shares value in $46 million. Based in Lima, Mibanco was constituted in 1998 as a commercial bank focused on micro and small business entrepreneurs. It serves more than 200,000 micro and small business enterprise clients, employs 2200 persons, and operates 74 branch offices throughout greater Lima and provinces outside the capital. It offers its clients of which more than half live below the poverty line a range of services, including working capital loans, credit cards, consumer loans, mortgages, savings accounts, term deposits and checking accounts. As of December 2006, the Banks asset base was approximately $388 million, liabilities $335 million, and shareholders equity of $53 million.
The development impact of IFCs investment in Mibanco is expected to be high, as it will support productive micro and small business enterprises client and employment generation, by strengthening Mibancos capital base. Given Mibancos average loan size of approximately $1,300, the vast majority of beneficiaries of Mibanco loans will be micro and small business enterprises client The creation of the micro-insurance company is also expected to expand the range of financial products being made available to low income households and micro and small business entrepreneurs.
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Luis Ovalle, General Manager ACP Inversiones y Desarollo Av. Domingo Orue - 165 Surquillo Lima Peru Telephone: (511) 222 0202 Fax: (511) 222 4166 Mr. Rafael Llosa, General Manager Banco de la Microempresa S.A Av. Domingo Orue - 165 Surquillo - Lima Peru Telephone: (511) 513 8100 Fax: (511) 513 8155
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
ACP and Mibanco are both headquartered in Lima. The new specialized micro-insurance company will be based in Lima as well. While most of the Mibancos branches are concentrated in the greater metropolitan area of Lima, it also maintains nearly 40% of its branches across seven regions in the country. IFCs investment can be used to fund loan activities in any of the branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
HA - Microfinance and Small Business - Non Commercial Banking
Total: $19.00 million
7000000.00
12000000.00
7000000.00
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
12000000.00
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25374/mibanco-iv-acp
XM-DAC-903-SPI-25390
International Finance Corporation
Peru LNG Project
The liquefied natural gas (LNG) project being developed by Peru LNG S.R.L. (Peru LNG or the Company), consists of the development, construction and operation of a liquefied natural gas plant comprised of a greenfield 4.45 million tons per annum liquefaction train (the LNG Plant) and related marine facilities at Pampa Melchorita south of Lima, as well as a 408-km, 34-inch natural gas pipeline. The project will liquefy natural gas purchased from Blocks 56 and 88 in the existing Camisea gas fields and sell it to Repsol Comercializadora de Gas S.A. (Repsol CG) for export. The majority of LNG sales are expected to go to Manzanillo, Mexico, where Repsol CG has signed a 15 year gas sales agreement with Mexicos state power company Comisión Federal de Electricidad (CFE). Remaining volumes will be sold to international markets, including to Asia and North America.
Fit With World Bank Group Strategy: The Word Bank Groups (WBG) Peru Country Partnership Strategy (CPS) is built upon three strategic pillars to support Perus efforts to increase economic growth and competitiveness, reduce poverty and inequality, and strengthen the countrys public institutions. Within this overall framework, IFCs strategy focuses on: - working to reduce Peru''s large informal sector with technical assistance; - investing and developing projects which address bottlenecks to the provision of basic services and physical infrastructure; - investing in industries with strong competitive advantages such as agribusiness and tourism; - expanding growth to new beneficiaries including Small and Medium Enterprises (SMEs), housing, and tertiary education finance, and by building local government capacity to deliver services; and - supporting sustainable growth, notably in extractive industries, a key sector within the countrys economy. Specifically, the expected fit between the project and the WBG CPS for Peru is evident in a number of areas. The project will be developed in an environmentally and socially sustainable manner, i.e. with a minimal footprint during both construction and operation, thereby adequately mitigating environmental impacts, and augmenting social benefits for the surrounding region. The project will further enhance the countrys gas pipeline infrastructure and provide Peru, as well as the wider regions, first internationally competitive LNG liquefaction facility. In addition, the significant increase in natural gas production to supply the project will also result in an increase of associated liquids (condensates) which will become available for consumption in Peru, thereby reducing the need for expensive imports and potentially serving as the basis for further development of downstream industries such as petrochemicals. The project is expected to convert Peru into a net exporter of hydrocarbons after 2010. Anticipated Development Impact: This project will support the monetization of hydrocarbons in Peru. While the country has modest reserves of liquid hydrocarbons, it has significant reserves of natural gas. The project will contribute to the development and strengthening of the country''s natural gas infrastructure, and will play a part in satisfying the growing domestic demand for hydrocarbons. In addition the project will significantly impact both regional and national economic growth over the coming years through a combination of local investment, generation of export revenues, taxes, and royalties. Looking at the wider region beyond Peru, a majority of Peru LNGs exports are destined for Manzanillo, Mexico, where the gas will be fed into the national grid as a cleaner fuel for electricity generation (replacing fuel oil), and/or domestic consumption, or may also used as feedstock for petrochemical production thereby serving an important development purpose for Mexico as well as Peru. Specifically, the project is expected to generate the following development impacts: - Creating Local Employment: During the planning and construction phases, the project will generate over 5,200 skilled and unskilled, direct and indirect jobs. During the operating phase, 150 to 200 direct jobs will be created at Pampa Melchorita, with additional jobs being created upstream in gas production, and indirectly through supplier businesses. From engineers to security personnel and administrative support, a vast majority of the Projects staff will be Peruvian. Peru LNG expects that over $1 billion of the Project investment will be in local goods and services, primarily centered around the LNG Plant site. - Contribution to Peruvian Government Revenue: It is expected that the Government of Peru will receive substantial fiscal receipts in the form of corporate taxes, paid by Peru LNG, as well as royalties and taxes generated from the production of hydrocarbons by the upstream Camisea project. In the longer term, the average tax revenue generated from the Project alone is expected to exceed $100 million per annum. Incremental royalties generated by supplying the Project with gas for export are expected to exceed $225 million per annum. A sizeable portion of these revenues will accrue directly to the regions impacted by this Project and the upstream Camisea project. - Community Development: Peru LNG is developing a broad community engagement program in line with its commitment to the sustained economic development of the neighboring communities of Pampa Melchorita, and those located along the Projects pipeline route. IFC in partnership with Peru LNG are building on the companys existing social development programs to develop new areas for collaboration to enhance local benefits. Specifically, IFC is exploring projects with the company and sponsors to: - Improve the companys social investment strategy, and enhance stakeholder participation in its design and implementation through the development of third party evaluation and monitoring capacity; - Enhance the companys strategy on local procurement to advance the inclusion of SMEs in its supply chain thereby promoting the long term sustainability of local businesses, and contribution to the local economy; and - Develop a program to further enhance the capacity of local governments in the management and use of tax revenues, in addition to improving social accountability to increase the impact of local public investments. The key development indicators that are proposed to be monitored during the life of the IFC investment are: - Annual LNG sales; - Annual taxes paid to the Government of Peru by PLNG; - Annual direct jobs created; - Annual spending with local businesses; and - Implementation of community development programs including governance capacity.
Peru LNG S.R.L.
Peru: Peru LNG Av. Victor Andres Belaunde 147 Vía Real 185 - Torre Real 12 Piso 1. San Isidro, Lima Perú Telephone: +51 1 707 2000 For the attention of: Kelly Alderson, Communications Manager, Peru LNG USA: Hunt Oil Company 1900 N. Akard Street Dallas Texas 75201 Telephone: +1 214 978 8534
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project consists of two parts: - the LNG Plant, including a marine loading terminal from which LNG will be transported, and - a gas supply pipeline which will connect to an existing pipeline operated by Transportadora de Gas del Peru (TGP). The LNG Plant and marine facilities are located at Pampa Melchorita, 170 kilometers south of Lima, situated between the towns of Cañete and Chincha. The site is in an area of arid, uncultivated coastal land. The marine facilities consist of a breakwater and jetty with facilities to load LNG onto tankers for export. In addition, the project includes a quarry, located approximately 25 km east of the plant site, which will provide the rock required for the construction of the breakwater for the marine facilities. The rock will be transported by truck along an access road, and an interchange underpass which has been built to cross the South Pan-American Highway. Design and development of the Peru LNG gas supply pipeline began in 2005, with physical pipeline construction expected to begin in early 2008. The 34-inch diameter pipeline will stretch 408 kilometers from Chiquintirca in the Ayacucho Mountains through Huancavelica and Ica to reach the LNG plant.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Oil and Gas Production (Includes Development)
Total: $300.00 million
300000000.00
300000000.00
Peru LNG S.R.L.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25390/peru-lng-project
XM-DAC-903-SPI-25717
International Finance Corporation
BIF Tier II
The project consists of an IFC investment of up to $18 million in the form of a subordinated loan to Banco Interamericano de Finanzas (BIF or the Bank). The Subordinated Loan from IFC will be used as Tier II capital for the Bank and have a maturity of up to 10 years. The proposed investment is intended to strengthen the Banks capital base and support its growth by providing the necessary funding to promote its lending activities.
BIF was established in 1991 and is currently ranked sixth in Perus financial system in terms of the credit portfolio with 3.98% market share, and fifth in terms of deposits with 3.29% market share. BIF offers a wide range of banking services to commercial, corporate and retail customers. BIFs shareholders are Landy S.A. (50.05%) and Britton S.A. (49.95%), both industrial companies that form part of Grupo Fierro.
The proposed investment would:
- Provide adequate long-term financing to strengthen BIFs capitalization for its continued growth;
- Support the growth of BIF and its efforts to diversify products and services offered in a market that is highly concentrated, thus providing alternative financing sources to individuals;
- Assist in expanding the available offering of financial products and services to the commercial sector, more importantly those that are trade and export related;
- Help develop and strengthen an additional market player (though smaller) in the retail banking sector, especially for mortgages; and
- Increase banking penetration rates within Peru.
BANCO INTERAMERICANO DE FINANZAS SA
Javier Arroyo, Chief Financial Officer
Banco Interamericano de Finanzas
Av. Av. Ricardo Navarrete No.600
San Isidro, Lima
Peru
Telephone: 51-1-2113000
Fax: 51-1-2212489
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BIF is headquartered in Lima and has over 32 branches in and around Lima.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AA - Commercial Banking - General
Total: $18.00 million
18000000.00
18000000.00
BANCO INTERAMERICANO DE FINANZAS SA
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25717/bif-tier-ii
XM-DAC-903-SPI-25860
International Finance Corporation
EDYFICAR PCG
EDPYME EDYFICAR (Edyficar or the company) is a microfinance institution that provides credit services to the low-income segment in Peru. Edyficar was established as a private limited company in 1997, and started its operations in 1998, after obtaining a limited banking license from the Peruvian Superintendent of banks and insurance companies. As of December 2006, Edyficar had a staff of 617 people and 36 branch offices, 23 of which were outside Lima. Edyficar is the second largest Peruvian micro-finance institution in terms of number of clients, serving more than 89,000 customers, and the eighth largest in terms of portfolio size. The proposed project involves assisting Edyficar accessing the Peruvian capital market to help it fund its expected growth and diversify its funding sources. The investment fits well IFC strategy with regards to the financial sector, by supporting a microfinance institution which focused on an underserved market.
The development impact of IFCs financing to Edyficar is expected to be high, as it is expected to support productive microenterprises and promote employment generation. Given Edyficars average loan size of less than $900, and its 7 month duration, IFCs PCG is expected to enable Edyficar to provide more than 100,000 loans during the life of the project. The beneficiaries of these loans will be low-income microentrepreneurs. The facility will also help develop the local capital markets for non-banking MFIs with credit ratings below AA.
Empresa Financiera Edyficar S.A
Mr. Luis Guerra, Financial Manager EDYFICAR S.A. Av. General Córdova 591, Urb.Sta.Cruz Miraflores, Lima, Peru E-mail: guerral@edyficar.com.pe Website: http://www.edyficar.com.pe/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Edyficar is headquartered in Lima, Peru and serves its clients through 36 branch offices in different regions of Peru. IFCs investment can be used to fund Edyficars loan activities in any of its branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
HA - Microfinance and Small Business - Non Commercial Banking
Total: $12.76 million
12760000.00
12760000.00
Empresa Financiera Edyficar S.A
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25860/edyficar-pcg
XM-DAC-903-SPI-25931
International Finance Corporation
Peru OEH II
Peru Orient Express Hotels (POEH or the company), an existing IFC client, has approached IFC to provide an A Loan (IFC Loan) of up to $13.0 million to help the company: - undertake a refurbishment of two of its properties in Peru, the Nazarenas Convent in Cusco and the El Parador del Colca Lodge in the Colca Valley; and - refinance existing loans (the refinancing, and together with the refurbishment, the project, for a total of $29 million). The company presently operates the 32-room Machu Picchu Sanctuary Lodge, the 123-room Hotel Monasterio in the city of Cusco and the 7-room El Parador del Colca lodge in the Colca Valley. - Nazarenas Convent POEH has a concession agreement in place to operate the 17th century Nazarenas Convent. As a part of the project, the property will be transformed into a 55-room all-suite hotel. - El Parador del Colca This seven (7) room lodge will be refurbished and expanded into a 20-room property and branded and marketed as an Orient Express Hotel property. The Colca Lodge is located in the Colca Valley, which is one of the most scenic regions in Peru.
The proposed project will continue to contribute to Perus tourism infrastructure, raise the level of competition and service standards, and improve the offerings to meet the evolving tourism demand. The project will introduce higher end tourists to a new region of Peru in line with the Government of Perus initiative to bring high-end tourism to all regions of Peru. In doing so, it will create additional jobs both directly and indirectly and also increase linkages with other industry sectors such as building materials, agriculture, textiles, handicrafts and food processing. Higher spend tourists can optimize the economic impacts of the industry by generating more jobs, foreign exchange and higher tax revenue per tourist, while minimizing the potential negative impacts associated with overdevelopment, particularly in fragile environments.
PERU OE.H. S.A.
Mr. Laurent Carrasset, General Manager Peru Orient Express Hotels Malecon de la Reserva, 1035, Lima 18 Peru Telephone: 51-1-610-4000 Fax: 51-1-241-0579
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
- Nazarenas Convent POEH has a concession agreement in place to substantially rebuild and operate the 17th century Nazarenas Convent which sits on a 1.3 acres piece of land adjacent to the Hotel Monasterio in the city of Cusco, southern Peru. Cusco has a population of approximately 400,000 and an estimated 21% of the population derives their incomes from tourism. - El Parador del Colca The Colca lodge is located in the Colca Valley, which is approximately 165 kilometers north of the city of Arequipa in southern Peru. The nearest village to the Colca lodge is a town called Yanque which is approximately 20 kilometers away. Yanque has a population of approximately 30,000, and the majority of its inhabitants are farmers.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Resort Hotel (Including Lodges)
Total: $13.00 million
13000000.00
13000000.00
PERU OE.H. S.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25931/peru-oeh-ii
XM-DAC-903-SPI-26076
International Finance Corporation
Sociedad Agricola Viru S.A.
The project entails: - the overhaul and automation of the companys canning plant in the south of Peru (Chincha); - the acquisition and development of new asparagus plantations with irrigation; - the provision of permanent working capital and - the refinancing of existing debt.
The project supports the continued development of one of Perus leading agribusiness companies. It will improve Virus competitiveness in the production of asparagus, artichokes and peppers through better economies of scale. The expansion will benefit the local economy, which remains particularly important in affected rural areas in the departments of La Libertad and Ica. Other benefits result from the continuation and expansion of benefits to employees, farmers, agricultural industry and community development. Employment: the company will continue to be a major contributor to the local economy: it directly employs 2,247 full time workers in its plants and 2,282 full-time agricultural workers for a total of 4,558 employees (36% women and 64% men). Farmer benefits: The company also procures part of its requirements from third parties who benefit from canning operations. Viru procures from about 120 independent producers of peppers and artichokes (approximately 1,800 has). Industry diversification: Viru was the pioneer in artichoke production in Arequipa, where it was the first to introduce and promote production from third-parties in 2004. As a diversification from asparagus, production of artichokes and peppers was almost non-existent in Peru five years ago and currently represent over US$100 million in exports. Community development: Over the years, the company has built a constructive relationship with the communities where they operate. The company established a Social Responsibility Department (SRD) aimed to improve the quality of life of its workforce and the community, The SRD has focused its activities primarily on improving the educational system, security, and income generation.
Viru S.A.
Carlos Roldan, General Manager Carretera Panamericana Norte, Km 521 Viru, La Libertad-Peru Fax: (5144) 371-248 www.saviru.com Local disclosure location: The disclosed documents will be available to the public at the municipalities of Trujillo and Chincha, in their respective libraries.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The company will overhaul its canning plant in the city of Chincha, located in the southern department of Ica. The company will develop the new plantations in the province of Viru, just south of the northern city of Trujillo (department of La Libertad) on the Panamericana highway. The plantations within the western coastal belt of Peru, on land benefited from the governments Chavimochic irrigation project.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AF - Fruits and Vegetables
Total: $15.00 million
15000000.00
15000000.00
Viru S.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26076/sociedad-agricola-viru-s-a
XM-DAC-903-SPI-26100
International Finance Corporation
America Leasing
The proposed project involves establishing a long term relationship with America Leasing (AL or the company), Perus second largest specialized leasing company which targets specifically micro, small and medium enterprises (MSMEs), which are usually underserved by the large banks. The project would help AL fund its MSME portfolio growth, diversify its financing sources and strengthen its presence in the MSME segment. To achieve these objectives, IFC would be providing a $10 million long term loan and a technical assistance program.
AL is a specialized leasing company supervised by the Peruvian Superintendent of Banks and Insurance companies. It started its operations in 1995, and currently operates as a leasing company offering finance leases. AL is the largest Peruvian specialized leasing company which is not part of a banking group.
As of December 2006, the company held a 6.5% market share of the Peruvian leasing market, measured by portfolio amount, and a 14.1% market share, if measured by number of contracts under administration. ALs is primarily involved in the transportation, industrial and commercial segments of the leasing market, which together represent 60% of the companys leasing portfolio.
The low average lease amount reflects the fact that ALs target segments are small and medium enterprises. In fact, as of December 2006, 91% of ALs leasing portfolio was in companies with less than $21 million in annual sales; the average size of ALs contracts is $67,700, against $149,800 for the overall leasing market.
By supporting a well-run and reputable independent specialized leasing company, IFC will improve the competitive landscape for such niche player and will help to improve its overall access to capital. The project is expected to have a strong developmental impact in the following areas:
- it will enhance ALs ability to support the SME segment contributing to deepen the access to financial services in Perú for small and medium enterprises, usually underserved by large commercial banks;
- it will improve the financial fundamentals of the company by allowing it to access long term financing and diversifying funding sources.
Amerika Financiera S.A.
Mario Ventura Verme, General Manager
America Leasing
Avenida Javier Prado Oeste 2125, San Isidro
Lima, Perú
Telephone: (511) 611-1700
Fax: (511) 264-3258
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
America Leasing is headquartered in Lima, Perú.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
LB - Leasing Services
Total: $10.00 million
10000000.00
10000000.00
Amerika Financiera S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26100/america-leasing
XM-DAC-903-SPI-26110
International Finance Corporation
Maple Energy
Maple Energy plc (Maple or the company) is an independent, privately-held integrated energy company with assets and operations focused in Peru. Maple engages in numerous aspects of the energy business, including exploration and production of crude oil and natural gas; refining and marketing of hydrocarbon products; gas-fired power generation and transmission and the development of an ethanol project. IFCs proposed investments will finance Maples capital expenditure program in the short-to-medium term (the project) which will include: - the drilling and well work-over programs and related activities aimed to extend production of its existing hydrocarbon fields; - exploration and related activities in Maples hydrocarbon concessions; and - the development of a greenfield ethanol project.
- Increased Supply and Monetization of Natural Gas, Gas Liquids and Oil, and Consequential Reduction in Imports: Maples capital expenditure plan is targeted to increase Perus indigenous sources of energy, particularly through extending production levels in currently producing fields and the monetization of stranded natural gas reserves (a clean fuel), gas liquids and oil, in the central east area of Peru. In addition, Maples proposed investments may potentially lead to new hydrocarbon discoveries. - Creation of Markets and Production of Renewable Bio-fuels: Maples entry into the production of bio-ethanol using locally harvested sugar cane grown on its own land using state-of-the-art irrigation drip systems will boost the agricultural sector in Piura, promote the use of efficient irrigation technology in the Chira river basin, and produce a renewable, less polluting indigenous fuel. Maples ethanol production will allow for exports to international markets and will also be available for mixing with domestic gasoline which is expected to become mandatory in Peru in 2010. - Contribution to Peruvian Government Revenue: The project facilitates the production and sale of hydrocarbons and ethanol which provides an important source of revenue to the country through both upstream royalties and corporate income taxes. - Creating Local Employment and Sourcing in Peru: Maples various operations currently directly employ approximately 400 people in Peru. The planned upstream activities are expected to provide additional employment opportunities and exposure to skilled employment to Peruvians. In addition, Maples new ethanol venture will create direct new employment opportunities in Peru associated with the cultivation and subsequent harvesting of land to be planted with cane and the construction and operation of an industrial ethanol distillery. The project will also have an impact on secondary employment through services provided by local companies and contractors. IFC plans to monitor the following development impacts: - employment; - local/national purchasing; and - payments to governments.
Maple Energy Plc
Mr. Rex Canon Chief Executive Officer Av. Víctor Andrés Belaúnde 147 Vía Principal 140, Oficina 201 Edificio Real Seis, San Isidro Lima 27, Peru Tel: +511-611 4000 Fax: +511-222 3490 Email: canon@maplecos.com Environmental documents associated with Maples operations will be located at the following locations: - Lima Office: Attn: Senior Vice President Operations, Av. Víctor Andrés Belaúnde 147, Vía Principal 140, Oficina 201, Edificio Real Seis, San Isidro, Lima 27, Peru; - Pucallpa Office: Attn: Operations Manager, Jr. Padre Aguerrizabal 300, Pucallpa, Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Maples upstream operations are in the sparsely-populated central east area of Peru in the area regionally surrounding the city of Pucallpa. Maples hydrocarbon exploration and production Blocks 31 B, C, D and E are located in the three departments of Loreto, Ucayali, and Huanuco despite the relative proximity of the blocks. Currently, Blocks 31-B, 31-C and 31-D have producing wells and Maple plans to conduct exploration activities and reactivate prior producing wells in its Block 31-E. Maple also operates a refinery and a sales distribution plant located in the city of Pucallpa. The proposed ethanol project is expected to be developed on 10,672 hectares of unused and uncultivated semi-desert land in northwestern Peru. The ethanol project will also involve the construction of storage and shipping facilities in the port of Paita to accommodate the sale of ethanol from the project.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Oil and Gas Production (Includes Development)
Total: $40.00 million
30000000.00
10000000.00
30000000.00
Maple Energy Plc
10000000.00
Maple Energy Plc
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26110/maple-energy
XM-DAC-903-SPI-26918
International Finance Corporation
Enfoca Discovery 1 L.P.
Enfoca Discovery 1, L.P. (the Fund) is a Peruvian private equity fund, managed by a local team of investment professionals, which aims to invest in mid-market companies in Peru and other Andean countries. The Fund will primarily seek influential minority stakes of $10-50 million equity or equity-related investments in high-growth companies in export businesses and consumer-oriented industries such as retail, healthcare, financial services, and building materials.
The Fund is expected to have a strong impact for private sector development as follows:
- Private sector development: The Fund will add value to its investee companies, by providing managerial, operational and strategic support to improve their competitiveness and sustainability
-Economic development: The Fund is expected to invest in high-growth companies aiming to increase output, which in turn should lead to increased employment rates.
- Environmental practices: The Fund Manager will adopt international best practices for environmental and social risk assessment and management, and improve transparency and corporate governance, thus transferring knowledge and skills to portfolio companies
Enfoca Discovery 1 L.P.
Jesús Zamora
President
jzamora@enfoca.com.pe
Alberto Pasco-Font
General Manager
apascofont@enfoca.com.pe
Enfoca Asset Management Ltd.
Calle Los Pinos 222
Lima 27, Peru
T. (51-1) 222-2090
F. (51-1) 222-2757
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The Fund will be formed as a Cayman Islands exempted limited partnership organized to operate as a private investment partnership and will have a local investment team based in Lima, Peru. The Fund will seek investment opportunities primarily across Peru and opportunistically across neighboring Andean countries.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BA - Private Equity/Venture Cap Fund - Country
Total: $15.00 million
15000000.00
15000000.00
Enfoca Discovery 1 L.P.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26918/enfoca-discovery-1-l-p
XM-DAC-903-SPI-27292
International Finance Corporation
Emprendedores
The project would consist of an equity investment of up to $10 million (for a stake of up to 20%) in Caja Rural Nuestra Gente. Parallel to this investment with BBVA Foundation in Caja Rural Nuestra Gente, IFC is establishing an investment facility (#26837 or the Facility) that will allow IFC to co-invest with the Foundation. Caja Rural Nuestra Gente is the resulting company of the merger of Caja Sur, Caja Nor Peru (the second and largest rural CRACs in Peru) and EdPyME Crear Tacna. The institution, offers financial products to entrepreneurs in the coastal regions of Peru, wit special incidence in those of La Libertad, Piura, Cajamarca, Arequipa and Tacna.
The project is expected to have the following important developments impacts: - Facilitate the long term access of MFIs equity and debt funding. - Foster the integration of microfinance institutions into the formal financial sector.
FINANCIERA CONFIANZA S.A.A.
Alejandro Lorca Salaner BBVA Foundation +34 91 537 4728 Madrid, Spain
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Caja Rural Nuestra Gente is headquartered in Lima, Peru. The headquarters of the two Cajas and the Edpyme, which located in the cities of Arequipa, Trujillo and Tacna, have remained as main offices in each region. In addition, the resulted Caja has 46 branches located in the Provinces of Arequipa, La Libertad and Tacna and the surrounding areas.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
HA - Microfinance and Small Business - Non Commercial Banking
Total: $9.00 million
9000000.00
9000000.00
FINANCIERA CONFIANZA S.A.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/27292/emprendedores
XM-DAC-903-SPI-28031
International Finance Corporation
Calidda Peru
Gas Natural de Lima y Callao S.A. (Calidda, or the Company) is the holder of a 33 year concession (extendable to a maximum of 60 years) granted by the Government of Peru (GOP) to build and operate the gas distribution network in Lima and Callao (the concession area). The Company started operations in 2004.
The Project consists of phase I of the expansion of Caliddas distribution network, designed to increase the distribution capacity of natural gas in the concession area from 255 to 420 million standard cubic feet per day. Total Project cost is calculated at $ 236 million, and will include: (i) the expansion and upgrades to the main grid, (ii) the expansion to the low pressure secondary grid, and (iii) refinancing of existing senior debt.
By nature, city gas distribution projects have a high development impact due to their fundamental characteristics, including their benign impact on the environment, the low hazards of transporting gas through gas distribution networks, and the positive social and economic benefits it imparts to the local populations. Natural gas is one of the cleanest fossil fuels, and its widespread use is one of the most cost-effective ways of reducing harmful air pollution caused by the widespread use of less clean-burning fuels such as sulfur-containing fuel oil, coal, diesel and gasoline. In addition, natural gas produces lower GHG emissions than the alternative fuels. Caliddas project is therefore consistent with IFCs climate change agenda.
The project will have an important direct reach impact on the bottom of pyramid (BOP) of the Lima and Callao provinces. Caliddas strategy is focused on connecting low income segments of the population to the gas network, while continuing to develop the industrial and NGV segments.
Gas Natural de Lima y Callao S.A.
Mr. Jaime Falquez
CFO, Calidda
Jaime.Falquez@calidda.com.pe
Direct telephone: (511) 611-7550
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project is expected to benefit industries, NGV stations and residential households of Lima and Callao. Between 2009 and 2013, Calidda is expected to add six new residential districts to its current network, including Villa Maria del Triunfo, San Juan de Miraflores, San Martin de Porres, Puente Piedra, San Vicente de Canete and Imperial (Canete). The total population of the affected districts amounts to approximately 1.8 million people.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
CA - Natural Gas Distribution
Total: $50.00 million
50000000.00
50000000.00
Gas Natural de Lima y Callao S.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28031/calidda-peru
XM-DAC-903-SPI-28215
International Finance Corporation
Antares Minerals
The project is the continued pre-feasibility study of the Haquira exploration stage copper prospect located in the Apurimac department in southern Peru, 75 km to the southwest of the city of Cusco. The current project activities include pre-feasibility study stage exploration drilling, environmental and social studies, and technical and economic assessments.
The Project is located in a remote region in the rural area of the Andes highlands with very limited employment opportunities other than sheep grazing. During the exploration phase, in addition to generating direct employment, the Company is implementing a program to improve local livelihoods through training and provision of materials for fish farming, greenhouse cultivation of vegetables, farming of fodder, sowing and occupational training.
The Project is expected to have limited development impacts during exploration phase, but potentially significant economic development impacts during construction and production phases, including tax revenues/foreign exchange contribution to the national economy, contribution to the local government budgets, as well as potential development of transportation and energy infrastructure that will improve possibilities for other economic activities.
Antares Minerals Inc.
John Black, CEO
5215 Bear Paw Dr.,
Castle Rock,
CO 80109,
USA
Telephone number: (720) 514-9036
Fax number: (303) 649-2179
Richard Hasler, Vice-President
Community & Corporative Affairs
Minera Antares Peru SAC
Psje Simon Bolivar 101, Yanahuara
Arequipa, Peru
Tel.: +51 (54) 270-616
Richard.hasler@gmail.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The Haquira project is located approximately 80 km to the southwest of Cusco, Peru in Apurimac Department of Peru. The property is in the Andes at elevations of 3,500 to 4,400 meters and consists of treeless, gently rolling hills with grassy vegetation and some rocky ridges. The property is a greenfield site. Access is by paved and unpaved roads, with driving time of seven hours from Cusco and twelve hours from Arequipa.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BC - Copper
Total: $12.26 million
12260000.00
12260000.00
Antares Minerals Inc.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28215/antares-minerals
XM-DAC-903-SPI-28741
International Finance Corporation
Sedapal Project
The Project consists in the construction of the Huachipa water intake (Rimac River) and treatment plant (north network and complementary works) in the District of Lurigancho-Chosica towards the eastern boundary of the Lima province. Thirty percent of construction has been completed to date and the rest is expected to be finalized by December 2010. The Huachipa Consortium led by the Brazilian firm Construcoes e Comercio Camargo Correa is implementing the project, and the Nippon Koei Cesel Consortium is the supervision engineer.
Improved water and sanitation services for 2.4 million people, most of them low income in underserved areas with little to no water service.
Increased potable water supply to the growing metropolitan area of Lima. The supply of drinking water in Lima and Callao will increase by 25% from 20.5 m3/sec. to 25.5 m3/sec. ensuring improved water service in the poor areas where potable water is currently available only for part of the day.
Reduction of infant mortality in the area benefitted by the project.
SERVICIO DE AGUA POTABLE Y ALCANTARILLADO DE LIMA SA
Mr. Juan Calderón
Operaciones Financieras, Sedapal
jcalderon@sedapal.com.pe
Direct Telephone number: 511-317-3173
Sedapal Telephone number: 511-317-3000
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project will benefit the population of Lurigancho-Chosica, San Juan de Lurigancho, Independencia, Comas, Carabayllo, Puente Piedra, San Martín de Porres, Los Olivos and part of Callao, by improving water availability per day and adding new connections to the network. The total population of the affected districts amounts to 2.4 million people.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BA - Water and Wastewater Utilities
Total: $65.00 million
65000000.00
65000000.00
SERVICIO DE AGUA POTABLE Y ALCANTARILLADO DE LIMA SA
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28741/sedapal-project
XM-DAC-903-SPI-29166
International Finance Corporation
Ame. Leasing II
The proposed investment would support the diversification of America Leasing (ALSA)s funding sources and product offering, as part of a client relationship plan which builds on IFCs prior engagement (a $10 million loan and advisory services).
Increased access to finance: this investment could help make financing available to Peruvian SMEs for over 500 long term capital investment projects.
Amerika Financiera S.A.
Mario Ventura
General Manager
Av. Jorge Basadre, No. 312
San Isidro, Lima 27, Peru
mventura@alsa.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The company is headquartered in Lima from where it offers services particularly to SMEs in the transportation, manufacturing, services and retail sectors. Although, ALSA does not have any branches or agencies outside of Lima, it is able to serve clients outside the capital city through its agreements with vendors that have national coverage.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
CA - Finance Companies
Total: $5.52 million
5520000.00
5520000.00
Amerika Financiera S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29166/ame-leasing-ii
XM-DAC-903-SPI-29168
International Finance Corporation
Nuestra Gente II
The proposed IFC investment consists of: (i) an IFC loan to Caja Rural Nuestra Gente (CNG or the Company) of up to PEN56 million (US$20 million equivalent) to finance the growth of its microfinance loan portfolio; and (ii) one or more PCGs that can be issued either in US$ or PEN in connection with the Companys Bonds issuance program. The combined aggregate exposure of IFC under the loan and all PCGs will not exceed PEN56 million (or its equivalent in US$ calculated with respect to each PCG denominated in US$ at the time of its issuance).
The investment would help the Company increase the diversification of its funding mix and is part of a client relationship plan which builds on IFCs prior engagement (a $7.7 million equity investment).
Through the proposed project, CNG will finance micro entrepreneurs and low income segments in frontier regions and small and medium sized municipalities, where commercial banks have limited outreach.
- Increased access to finance: If fully deployed, the loan and PCGs would help increase access to finance for micro entrepreneurs in Peru. CNG's portfolio is expected to increase by 20% on average annually during the life of the project from a base line of US$250 million in November 2010.
FINANCIERA CONFIANZA S.A.A.
Mr. Danilo Chavez
Caja Rural Nuestra Gente
Av. 28 de Julio 873, Miraflores
Lima, Peru
Telephone: (511) 3161106
dchavezw@cajanuestragente.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
CNG is headquartered in Lima and has branches in 18 out of Perus 24 departments.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
HA - Microfinance and Small Business - Non Commercial Banking
Total: $16.20 million
16200000.00
16200000.00
FINANCIERA CONFIANZA S.A.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29168/nuestra-gente-ii
XM-DAC-903-SPI-29399
International Finance Corporation
Mibanco - PEN Syndication
Mibanco was incorporated in 1998 as a private commercial bank specialized in microfinance. The Bank was a spin-off of the microfinance operations of Grupo ACP Inversiones y Desarrollo (Grupo ACP), which is the Banks main shareholder (60% ownership). The proposed project will support Mibancos expected portfolio growth through a syndicated transaction in local and foreign currency. In addition, Mibanco will maintain a presence in the international loan market and initiate relationships with new international investors.
The development impact of the Project is expected to be high, as it will enhance the Bank''s ability to support productive micro, small and medium enterprises which will in turn stimulate growth, employment generation and poverty reduction. In addition, Mibanco will be able to increase its outreach and sustainability incorporating thousands of new entrepreneurs to the formal financial sector. The Project will help develop the B loan market in local currency in Peru and reopen the syndication market for MFIs in Latin America, following the financial crisis.
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Ramiro Postigo Castro Treasury Manager rpostigo@mibanco.com.pe (511) 5138000 Av. Domingo Orué No. 165 Lima, Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Mibanco has an 18% market share of the microfinance segment in Peru through its branch network of 109 branches located in 20 out of the 24 departments of Peru.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AC - Commercial Banking - Microfinance and Small Business
Total: $15.00 million
15000000.00
15000000.00
MIBANCO, BANCO DE LA MICROEMPRESA S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29399/mibanco-pen-syndication
XM-DAC-903-SPI-29405
International Finance Corporation
Cheves Hydro
Empresa de Generación Eléctrica Cheves S.A. (Cheves or the Company) is developing a run-of-river 168 MW hydroelectric power generation plant, along the Churin and Checras rivers, approximately 245 km north of Lima, Peru (the Project). The Project is expected to generate 838 GWh annually on average, yielding a plant utilization factor of around 57%. The Project comprises the construction of a total of 18 km in tunnels (including a water conveyance system), an underground power house, and a 77 km transmission line to connect the project to the National Interconnected System.
The Project has been in development for over 10 years and Cheves has now secured all necessary key permits for its development, including a Definitive Concession (required for electric power generation activity), and performed the required Environmental & Social Assessments (ESIAs) in accordance with local regulation. The Company has also secured 8 Power Purchase Agreements (PPAs) with electricity distribution companies for a period of 15 years starting in 2014.
The Project's success is critical in supporting the Government of Peru's efforts to refocus on developing Peru's hydro potential to sustain continuous economic growth through a properly diversified energy mix and address the climate change agenda. Furthermore, the Project is expected to have other key economic and developmental impacts by: (i) decreasing carbon emissions through the displacement of thermal power generation; (ii) increasing employment, mainly during the construction phase; (iii) contributing royalties and tax payments that will directly benefit the regional and local governments around the project; and (iv) serving as a benchmark in terms of implementation of E&S standards for other hydroelectric developments in the region.
STATKRAFT PERU SA
Contact: Kjetil Nevstad
Address: Camino Real 456 7th Floor, San Isidro, Lima-Perú
Phone: +51-1-7008100 Extension 7123
E-mail: Kjetil.nevstad@snpower.com
Website: www.snpower.com.pe (available from 2011)
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project is located along the rivers Churin and Checras, in the provinces of Huaura and Oyón in the central Peruvian Andes, approximately 245 km north of the city of Lima.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
BA - Large Hydro - Renewable Energy Generation
Total: $85.00 million
85000000.00
85000000.00
STATKRAFT PERU SA
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29405/cheves-hydro
XM-DAC-903-SPI-29540
International Finance Corporation
BIF II Project
The proposed investment consists of a debt package of up to $30 million to Banco Interamericano de Finanzas (BIF or the Bank), comprising an IFC Loan and a Parallel Loan. The Parallel Loan is expected to be funded by IFIs.
The proposed project will support the Banks growth by helping BIF access longer term financing. It will also help BIF diversify its funding sources by opening up new relationships with IFIs.
-Increased access to finance: Without the Project, it would be much harder for BIF to raise the amount of medium-term funding it is seeking from diversified sources and at competitive market conditions. If fully deployed, the loan could help increase BIF SME loan portfolio by 30% on average annually during the life of the project from a base line of US$185 million in 2009. Wealth derived from the financing activity made possible by the investment would help reduce the income gap prevailing in Peru.
BANCO INTERAMERICANO DE FINANZAS SA
Mr. Javier Arroyo
Banco Interamericano de Finanzas
Av Rivera Navarrete 600, San Isidro
Lima, Peru
Telephone: (511) 6133000
jarroyo@bif.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BIF is headquartered in Lima and has 47 branches and 72 ATMs mainly concentrated in Lima with an expansion plan throughout the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AA - Commercial Banking - General
Total: $30.00 million
30000000.00
30000000.00
BANCO INTERAMERICANO DE FINANZAS SA
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29540/bif-ii-project
XM-DAC-903-SPI-29595
International Finance Corporation
Grupo Salud
The project involves the construction of a new 140-bed hospital in Lima, Clinica Delgado. The hospital will have strong oncology and cardiology operations and will be a referral center for a network of clinics, which are expected to be built in the medium and longer term in the outskirts and outside of Lima. Clinica Delgado will be the first in the country to have a partnership with an international operator, American Hospital Management Company (AHMC). Additionally, this new hospital will create vertical integration for its sponsor, Grupo Salud, which currently has an oncology insurance operation (Oncosalud) and is also involved in a PPP with ESSALUD (local administrator of Social Security) for the construction/operation of a an outpatient facility (known as Torre Trecca).
The project fits with IFCs strategy to support the healthcare sector in the region, including investments in Peru. The rationale for pursuing this investment is based on (a) presence of a reputable fund Sponsor, in which IFC has committed an investment, (b) the projects goal of creating a center of excellence in Lima, offering high quality services, (c) the Sponsors medium term goal of expanding in middle income regions outside of Lima, and (d) the opportunity to strengthen IFCs health and education presence in Peru, which historically has been a difficult market to enter and where private health offer is poor and the population is underserved.
(i) Creation of high quality health services provider as a center of excellence in Peru ; (ii) Demonstration effect on viability of private health care institutions; (iii) Provision of services to middle and lower income patients through PPP facility (Trecca) which will benefit from the flagship hospital within the group, despite not being financed by IFC
Grupo Salud del Peru S.A.C.
Aristides De Macedo
CEO
Av del Pinar No. 152 Of. 506
Chacarilla del Estanque, Santiago de Surco
Lima, Peru
ademacedo@gruposalud.com.pe
Tel (511)205-3500
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
The project will be built in modern Lima, in the Miraflores neighborhood, on a plot donated to the Red Cross solely for the construction of a health facility. Grupo Salud has signed a 40-year lease with the Red Cross to use this plot for the construction of Clinica Delgado.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AA - Hospitals and Clinics
Total: $25.00 million
25000000.00
25000000.00
Grupo Salud del Peru S.A.C.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29595/grupo-salud
XM-DAC-903-SPI-30382
International Finance Corporation
LPV Equity Project
La Positiva Vida Seguros y Reaseguros (LPV or the Company) is Perus 5th largest life insurance company. The Company was founded in 2005 as a spin-off La Positiva Seguros y Reaseguros (LP) which holds an 89.5% equity stake. LPV product offering includes annuities, retirement pension insurance, occupational life & disability insurance, mortgage life insurance and family protection insurance. The Company has focused in the B, C, and D segments of the population and has a particularly strong presence outside the capital city of Lima. The proposed project consists of an equity investment in La Positiva Vida to facilitate the Companys expansion of its insurance business.
IFC''s participation in La Positiva Vida is expected to increase the availability of life insurance products in Peru, a country which presents one of the lowest insurance penetrations in the continent. Given the Group''s target market, IFC''s investment would help increase access to insurance protection for the lower segments of the population.
La Positiva Vida Seguros y Reaseguros S.A.
La Positiva Vida Juan Manuel Peña General Manager jpenahen@lapositivavida.com.pe http://www.lapositivavida.com.pe/vida Phone: (511) 513-0521 Facsimile: (511) 513-0516 Esq. Javier Prado Este y Francisco Masías 370. San Isidro Lima - Perú
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
La Positiva Vida has a 11.5% market share of the insurance sector in Peru through its branch network of 21 offices located across Peru.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
JA - Life Insurance
Total: $10.00 million
10000000.00
10000000.00
La Positiva Vida Seguros y Reaseguros S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30382/lpv-equity-project
XM-DAC-903-SPI-31171
International Finance Corporation
Fin Crear Loan
The proposed transaction aims to support Financiera Creditos Arequipa S.A. (Crear or the Company), a strong microfinance provider in Peru, through a syndicated transaction which would facilitate resources for the Companys micro and small enterprise (MSE) portfolio expansion (the Project). Crear was recently acquired by Banco Compartamos S.A. (Compartamos), a strategic IFC partner whose core mission is to promote financial inclusion and increase access to financial services to MSEs in Mexico and is currently implementing a regional expansion strategy. Financiera Crear is an Empresa Financiera which provides micro loans averaging $1,500 in size to micro entrepreneurs in the city of Lima and the South of Peru, primarily around Arequipa. Financiera Crear, which was incorporated as Edpyme in 1998, was transformed into Empresa Financiera in 2010. As of December 2010, Financiera Crear held a 4.1% market share in terms of MSE clients.
The development impact of the Project is expected to be high, as it will enhance the ability of Financiera Crear to support productive micro, small and medium enterprises which will in turn stimulate growth, employment generation and poverty reduction. In addition, Financiera Crear will be able to increase its outreach and sustainability incorporating thousands of new entrepreneurs to the formal financial sector.
Compartamos Financiera S.A.
Antonio Varela CFO Calle Santa Martha Nº 112 Arequipa, Peru Telephone +51-54-281364 anvarela@compartamos.com www.financieracrear.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Crears portfolio is focused on small and micro companies (90% of the portfolio), with average loans of US$1,500. It is mainly concentrated in the cities of Arequipa (52%) and Lima (48%).
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
HA - Microfinance and Small Business - Non Commercial Banking
Total: $13.01 million
13010000.00
13010000.00
Compartamos Financiera S.A.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/31171/fin-crear-loan
XM-DAC-903-SPI-31459
International Finance Corporation
Continental III
IFC is considering supporting the portfolio growth of BBVA Banco Continental (the Bank or Continental) through (i) a US$75 million non-revolving credit line, and (ii) up to US$100 million non-revolving syndicated credit line subject to market conditions The proceeds from this facility will be used mainly to support the Banks growth in renewable energy projects, mortgages, and other medium-term needs.
(i) Expand access to housing finance, while stimulating demand for labor, materials and other supplies for the housing industry; and (ii) indirectly support the construction and development of small hydropower plants, which will increase the availability of clean energy in the country;
BANCO BBVA PERU SA
Mr. Ignacio de la Luz Gerente General Adjunto BBVA Banco Continental Av. Republica de Panama 3055 Piso 18 San Isidro Lima 27, Peru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
Continental is headquartered in Lima and has a branch network of 265 branches, of which 75 are located outside Lima. IFCs investment can be used to fund loan activities through any of the branches.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
AB - Commercial Banking - Housing Finance
Total: $75.00 million
75000000.00
75000000.00
BANCO BBVA PERU SA
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/31459/continental-iii
XM-DAC-903-SPI-31778
International Finance Corporation
BIF III Project
The proposed investment consists of a debt package of up to US$65 million to Banco Interamericano de Finanzas (BanBif or the Bank), comprising an IFC A Loan of up to US$15 million and a B Loan package for the balance. The B Loans are expected to be funded mainly by commercial banks. The proposed project is expected to help BanBif continue accelerating the growth of its SME portfolio, access longer term financing. It will also help the Bank diversify its funding sources by opening up new relationships with international commercial banks.
- Without the Project, it would be much harder for BanBif to raise the amount of medium-term funding it is seeking from diversified sources and at competitive market conditions. If fully deployed, the loan could help make financing available for over 3,000 SME loans during the life of the project. - The income derived from the financing activity made possible by the investment would be widely distributed helping reduce the income gap prevailing in Peru.
BANCO INTERAMERICANO DE FINANZAS SA
Mr. Javier Arroyo Banco Interamericano de Finanzas Av Rivera Navarrete 600, San Isidro Lima, Peru Telephone: (511) 6133000 mailto:jarroyo@banbif.com.pe
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Peru
BanBif is headquartered in Lima and has 67 branches and 75 ATMs mainly concentrated in Lima with an expansion plan throughout the country.
Location description
A description that qualifies the activity taking place at the location.
-10.0000000000 -75.2500000000
O-AA - Commercial Banking - General
Total: $15.00 million
15000000.00
15000000.00
BANCO INTERAMERICANO DE FINANZAS SA
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/31778/bif-iii-project