PROJECT

Projects

Summary of Investment Information

Project Number

49527

Company Name

Banco del Pais S.A.

Date SPI Disclosed

May 24, 2024

Country

Honduras

Region

Latin America and the Caribbean

Projected Board Date

Jun 25, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Oct 4, 2024

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Aug 30, 2024
Signed : Sep 19, 2024
Invested : Oct 1, 2024

Sector

Commercial Banking - General

Additional Project Attributes

Blended Finance

Project Description

 The proposed investment consists of a US$50 million working capital loan to Banco del País, S.A. (“Banpais” or the “Bank”) in Honduras. The proposed loan will have a 2-year tenor with the renewal option for an additional 2-year tenor for a maximum tenor of 4 years. The purpose of the proposed IFC investment is to support Banpais’ lending program to Medium Enterprises (MEs), with a carve-out of at least 25% for including Women-owned Medium Enterprises (“WOE”) (the Project).

 

The Project is part of a country envelope of up to US$155 million (jointly for Honduras and Nicaragua) that will be supported by a pooled first loss guarantee of up to US$38.75 million provided by International Development Agency IDA Private Sector Window Blended Finance Facility (IDA-PSW BFF).

Associated Advisory Engagement

 IFC will provide advisory services to Banpais to support the Bank in better monitoring and reporting the women-owned enterprise loan portfolio.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation