Banco Mercantil, S.A.

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Project Number: 
BO0015A-01
Expected Consideration Date by the Board: 
06/01/1999
Date Posted: 
03/31/1999
Company: 
Banco Mercantil, S.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Bolivia, with branches in La Paz, Santa Cruz, Coch
Country: 
Scope Objective: 
The objective of the project is to develop mortgage securities in Bolivia. IIC will provide a ten-year US$10 million line of credit to finance long-term home mortgages. The credit line will expand the pool of loans required as a starting point in the development of mortgage-backed securities. The facility will enable Banco Mercantil to support the development of a housing program, an objective of the IDB in Bolivia.
Environmental Review: 
This is a category III project according to IIC’s environmental review procedures.

Each subproject must comply with Bolivian housing construction standards, zoning and land use requirements, and public health and safety regulations.