PROJECT

Projects

Summary of Investment Information

Project Number

40113

Company Name

Lafise Group-Panama Inc

Date SPI Disclosed

Nov 22, 2017

Country

Nicaragua

Region

Latin America and the Caribbean

Projected Board Date

Dec 29, 2017

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 10, 2018

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Feb 23, 2018
Signed : Mar 13, 2018
Invested : Apr 12, 2018

Sector

Commercial Banking - SME Finance

Project Description

The Project will provide to Lafise Bancentro (“Bancentro” or the “Bank”) a 7-year loan for small and medium enterprises (“SMEs”) and low and middle income home owners; and a 10-year subordinated debt to strengthen the Bank’s capital base, as well as fund Climate Smart projects.

LAFISE Bancentro is the largest banking subsidiary of LAFISE Group (“LAFG” or the “Group”). It is the second largest bank in Nicaragua in terms of assets with a 24% market share.

Associated Advisory Engagement

The Project includes a full regional  risk diagnostic  to provide guidance on improving its risk management and corporate governance processes.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation