35504 - Ganadero Loan

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Summary of Investment Information

Project Number

35504

Company Name

BANCO GANADERO S.A.

Date SPI Disclosed

Oct 23, 2015

Country

Bolivia

Region

Latin America and the Caribbean

Projected Board Date

Nov 23, 2015

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry - FIG LAC

Industry

Financial Markets

Previous Events

Approved : Dec 11, 2015
Signed : Feb 26, 2016
Invested : Nov 18, 2016

Sector

Commercial Banking - General

Project Description

The proposed project consists of a credit line of up to U$15 million, for up to 5 years to Banco Ganadero (the “Bank”), with a subscription option in favor of the IFC in newly issued common shares of the borrower, to be used to provide financing to Small and Medium Enterprises (“SMEs”). SMEs are critical in supporting sustainable economic growth and job creation.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	15.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Quasi-Equity	Loans to SME Borrowers

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

The proposed project is expected to strengthen the funding profile of a locally owned Bolivian financial institution to continue expanding its SME business, a largely underserved segment in the Country that is responsible for an important part of total employment in Bolivia. In addition, the investment is expected to lead to the implementation of international best practices with regards to environmental and social management.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
CORE - E and S Management Systems (Y/N)	Compliance/Enhancement		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The project involves IFC support to Banco Ganadero lending activities in the small, medium enterprise (“SME”) segment, which typically have low to medium E&S risks. Consequently, this project has been classified as Category FI-2, in accordance with the IFC’s Sustainability Framework. While the Bank has some limited exposures to sectors with potentially high environmental and social risks (e.g. oil and gas, construction and agribusiness), the Bank’s portfolio consists primarily of SME’s. The largest exposures by sector are represented by retail (33%), real state (23%), manufacturing (16%), and agribusiness (12%). For this project, the Bank will be required to screen SME sub loans against host country laws and the IFC’s Exclusion List.

Contacts

For Inquiries About the Project, Contact

Adolfo Guzman
Finance Manager
Santa Cruz, Bolivia
Telephone: 591 3 317-3080
Fax: 591 3 334-0825
Website: http://www.bg.com.bo

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Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

N/A

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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Task Title & Description	Anticipated Completion Date
Nominate officers	12/15/2015
Establish SEMS	12/15/2015
Formalize procedures	12/15/2015
Staff Training	12/15/2015
Enhance HR policies and procedures, (non-discrimination policy and grievance mechanism)	06/12/2016

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