Company name
Caja de Compensación de Asignación Familiar La Araucana (“Caja Araucana”)
Project number
14923-01
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
Chile
Sector
Financial Institutions
Status
Proposed
Disclosed date
05/08/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/11/2024
Approval date
07/11/2024
Signed date
07/25/2024
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 20,000,000
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The proposed transaction consists of an A/B loan for up to US$70 million (the “Loan”), financed as follows: (i) a committed loan for up to US$20 million to be financed by IDB Invest; (ii) an uncommitted loan for up to US$30 million, also to be financed by IDB Invest; and (iii) a B loan for up to US$20 million to be financed by institutional investors.
The Loan has an availability period of up to seven years, with each facility having an amortizable term of up to two years. The Project aims to increase Caja Araucana’s available financing so that it can increase its operations (balance sheet) of social credit for women workers, social credit for pensioners, and green social credit. Technical advisory services are also being designed to help Caja Araucana develop its sustainability strategy.
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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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
CAJA ARAUCANA -FINANCIAL INCLUSION PARTNERSHIP - 14923-01-CH - ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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