48228
BANCO INDUSTRIAL SA
Oct 12, 2023
Guatemala
Latin America and the Caribbean
Nov 15, 2023
FI-2 - Limited
Active
Dec 8, 2023
Regional Industry FIG LAC & EUR
Financial Markets
Approved : Dec 1, 2023
Signed : Dec 4, 2023
Invested : Dec 6, 2023
Commercial Banking - General
The proposed project is an up to US$220 million financing package for Banco Industrial S.A. (“Banco Industrial” or the “Bank”) in Guatemala, consisting of: (i) an up to US$170 million senior unsecured A loan for IFC’s own account (IFC A Loan), part of which benefits from (ii) up to US$75 million unfunded mobilization through the MCCP FIG program, in which IFC will transfer the credit risk to insurance companies, which results in a net IFC own-account exposure of not more than US$95 million, and (iii) a trust loan of up to US$50 million from IFC acting in its capacity as the implementing entity for the Managed Co-Lending Portfolio Program (MCPP).
The loan proceeds will be used to fund the growth of the Bank’s small and medium enterprise (SME) and climate-related assets , which is expected to be at least the 40% of the proceeds (the Project). The proposed senior unsecured IFC A Loan will have a maturity of up to 4-years, with a 1-year grace period.
IFC’s Climate Finance
A potential climate finance advisory engagement with Banco Industrial will support the Bank in expanding and diversifying its operations in climate finance and further developing the green building business in the country.
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