PROJECT

Projects

Summary of Investment Information

Project Number

40940

Company Name

Ban100 S.A.

Date SPI Disclosed

Sep 30, 2019

Country

Colombia

Region

Latin America and the Caribbean

Projected Board Date

Nov 26, 2018

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jan 24, 2024

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Nov 20, 2018
Signed : Sep 16, 2019
Invested : Sep 26, 2019

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

 The proposed project consists of subscribing senior bonds to Creditos y Ahorro Credifinanciera S.A.  (“Credifinanciera or the “Company”) for up to COP 35,000 million (approximately US$11 million) to support the growth of the Company’s microenterprise and pensioners loan portfolio. IFC’s financial support and mobilization efforts should send a positive signal to the market, as it would provide medium-to-long term financing through a bond issuance aimed at targeted institutional investors, ultimately deepening financial and capital markets in Colombia (the “Country”).

Associated Advisory Engagement

                                           

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation