Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Colombia
Banks:
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)
Status: Pending
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: 2018-03-30
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: Finanzauto S.A.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
  • Transport
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.
Loan 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: 2018-02-12
Disclosure Date: 2018-01-24
Finanzauto Financial Inclusion
IIC-12202-01

Project Description

SCOPE OBJECTIVE

The bank states that: With financing, Finanzauto S.A. will be able to offer loans to micro-, small-, and medium-sized enterprises (MSMEs) in Colombia’s transportation sector and various economic sectors that purchase vehicles as part of their productive assets for the development of their economic activity. 

Investment Description
Private Actors

Finanzauto is an unregulated Colombian financial institution with more than 40 years in the market that focuses on passenger and commercial vehicle financing. It has 33,000 clients and conducts 15,000 transactions per year. It is the main unregulated vehicle financing institution in the country. Finanzauto has 150 points of service in the country in six cities and has formed partnerships with close to 240 car dealers through which it provides financing. As of June 2017, it had 380 employees. As of the same date, it had equity of US$119 million and assets of US$280 million.

Contact Information

For inquiries about the Project, contact:

Client Contact name: Santiago Cleves Bayón 
Title: Planning Director
Phone number: 571 7499000 ext 530
email address: santiago.cleves@finanzauto.com.co
 

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

 

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).