Summary of Proposed Investment
Project Number
29934
Company Name
SCOTIABANK URUGUAY S.A.
Date SPI Disclosed
Sep 17, 2010
Country
Uruguay
Industry
Financial Markets
Projected Board Date
Oct 20, 2010
Status
Completed
Sector
Commercial Banking - SME Finance
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Nov 2, 2010
Signed : Nov 8, 2010
Invested : Jun 29, 2011
Project Description
The proposed project involves supporting Nuevo Banco Comercial S.A. (“NBC” or the “Bank”) in providing long-term financing to SMEs in the agribusiness sector.
The primary objective of the Project is to increase access to finance for Uruguay’s farmers and agribusiness SMEs, with an emphasis on expanding opportunities for the bottom of the pyramid (“BOP”) population in rural areas, and supporting the whole agricultural supply chain in a sector where Uruguay has a strong competitive advantage. This will be achieved by leveraging NBC’s strong position in agriculture finance and distribution capacity in those areas.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Alejandro Conforte
Head of International & Financial Institutions
Misiones 1399
(11000) Montevideo, Uruguay
Telephone: +59 8 2 140 1487
Fax: +59 8 2 140 1302
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
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2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384E Mail: Webmaster