Banco del Desarrollo Equity Investment
Expected Consideration Date by the Board:
Banco del Desarrollo
Project Description: The objective of the equity investment is to assist in the institutional strengthening of the Bank to enable it to increase the financing activities with small and medium-sized enterprises in Chile, penetrate in a significant way the regions outside the Santiago Metropolitan area, and achieve an important improvement in the use of its installed capacity. The project consists in a US$ 25 million increase in Banco del Desarrollo's capital, of which the IIC would invest up to US$10 million that would correspond to approximately 5.5% of the share capital of the Bank, and the other principal shareholders would invest up to US$15 million.
This is a Category III project according to IIC's environmental review procedure. The investments Banco del Desarrollo grants will be subject to an environmental review and must comply with national environmental laws, regulations and standards, as well as with applicable IIC policies. The Bank will be required to attend the IIC's environmental training seminar, which will provide basis for the recognition of environmental, safety and labor issues as well as IIC policy requirements.