Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Honduras
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)
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: 2017-05-30
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: Banco del Pais, 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
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 8.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 12.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2017-09-14
Disclosure Date: 2017-04-25
BANPAIS
IIC-HO3741A-01

Project Description
IIC: The Project seeks to increase the small and medium-sized enterprises ("SME") portfolio. The tenor is up to five years, which represents a financial additionality to Banpais as it mostly operates with short-term funding. IIC will contribute US$8 million from its own account, and will bring potentially in an additional US$4 million through the China Co-Financing Fund.In addition, it is expected that this Project will be complemented by an Advisory Services ("AS") component with the GREENPYME program, which objective is to provide: (i) training workshops for Banpais 'clients on energy efficiency, renewable energy and water management; and (ii) an online training course for Banpais employees to strengthen the internal capacity of analysis of green projects, and to make them aware of the different existing technologies and the risks associated with this type of projects. In addition, the AS will also support Banpai's clients by carrying out energy audits and water management reports.
Investment Description
The project consists in providing an Unsecured Senior Loan of up to US$12 million to Banco del Pais S.A. ("Banpais" or "the Bank"). Of the US$12 million, the Inter-American Investment Corporation (“IIC”) will contribute US$8 million from its own account, and will bring potentially in an additional US$4 million through the China Co-Financing Fund.
Contact Information
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).