Company name
Banco Solidario S.A. (BancoSol)
Project number
14388-01
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
E&S category
FI-3
Country
Bolivia
Sector
N/A
Status
Proposed
Disclosed date
10/17/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/25/2024
Approval date
03/26/2024
Signed date
02/28/2024
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 200,000
Financing amount
USD $ 15,000,000
Currency
USD
Project scope and objective
The proposed transaction consists in a guarantee denominated in bolivianos (BOB) for up to US$15 million to support an issuance in the Bolivian market of Social Gender Bonds in the amount of US$30 million by Banco Solidario, S.A. (“Banco Sol” or the “Bank”), to be financed by IDB Invest (the “Project”). IDB Invest will issue a Partial Credit Guarantee (PCG) for up to 50% of the bond issue in order to improve the rating profile of Banco Sol’s issuance.
The resources of the bond will be used to finance micro and small-sized enterprises (“MSEs”) as well as MSEs owned and/or led by women so as to increase their productive investments and economic development.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
BANCO SOL – SOCIAL GENDER BOND (PCG) - 14388-01 BO-ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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