Quick Facts

Where the impacts of the investment may be experienced.
  • El Salvador
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-12-12
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Banco Agricola, S.A.
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2018-01-16
Disclosure Date: 2017-11-09
Banco Agricola - PYMES

Project Description
SCOPE OBJECTIVE From the IIC: The purpose of the Loan is to provide medium-term financing to support the growth of Banco Agricola's SMEs portfolio. In the last year, Banco Agricola has worked to strengthen its portfolio of services and support model to this segment with the purpose of strengthening its positioning as a strategic partner of SMEs. Banco Agricola currently serves more than 35,000 SMEs with a particular focus on commerce and services sectors. The Inter-American Investment Corporation ("IIC") assessed Banco Agricola's ability to manage the environmental and social risks of the SME portfolio that will be financed with IIC funds. The evaluation was conducted in October 2017 based on a review of relevant client documentation.2. E&S and social classification and rationale. This is a category FI-3 project according to the IIC Sustainability Policy due to the low risk and size (average of US$12,000) of subprojects in Banco Agricola's current or future portfolio. The sectoral breakdown of the SME portfolio is as follows: Housing (44%), Trade (22%), Services (13%), Family Consumption (11%), and Others (10%). Banco Agrícola belongs to Grupo Bancolombia, which has adopted the Ecuador Principles. For IIC's full ENVIRONMENTAL REVIEW, view the original disclosure.
Investment Description
The Project consists of a total financing package of up to US$30 million to support the small and medium enterprises (“SMEs”) strategy of Banco Agrícola, S.A. (“Banco Agrícola”). The Inter American Development Bank Group (“IDB Group”) will participate through an unsecured A Loan of up to US$18 million with a four year term and includes the participation of B Lenders for up to US$12 million.
Private Actors
Contact Information
Client Contact Name: Mauricio Rivas Title: Correspondent Bank Manager Phone Number: +(503) 2267 5383 E-Mail Address: MaurRiva@bancoagricola.com.sv ACCOUNTABILITY MECHANISM OF IIC The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).