PROJECT

Projects

Summary of Investment Information

Project Number

50260

Company Name

Banco de la Produccion S.A.

Date SPI Disclosed

Sep 10, 2024

Country

Ecuador

Region

Latin America and the Caribbean

Projected Board Date

Oct 21, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Nov 1, 2024

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Oct 16, 2024
Signed : Oct 24, 2024
Invested : Oct 30, 2024

Sector

Commercial Banking - General

Project Description

The proposed project consists of a senior financing package of up to US$150 million with a tenor of five years and a two-year grace period. IFC would directly commit up to US$100 million in senior loans and mobilize up to US$50 million through credit insurance. Additionally, IFC will seek to mobilize up to US$50 million in B/Parallel loans, completing the financing package.                                                   

Associated Advisory Engagement

IFC will in parallel provide advisory services to the Bank in developing its capacity to identify and finance biodiversity projects.                                                                                                      

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation