BAC ES Debt

active

  The proposed project is an up to US$190 million financing package for Banco de America Central, S.A. (BAC ES or the Bank), consisting of: (i) an up to US$30 million senior unsecured A loan for IFC's own account (IFC A Loan), part of which benefits from US$15 million unfunded mobilization through the Managed Co-Lending Portfolio Program (FIG III program), in which IFC will transfer the credit risk to insurance companies, which results in a net IFC own account exposure of not more than US$30 million; (ii) up to US$120 million mobilization package through a B Loan facility; and (iii) an unfunded trade finance facility under IFC’s Global Trade Finance Program (GTFP) of up to US$40 million with BAC El Salvador. (the Project). The loan proceeds will be used to fund the growth of the Bank's climate-smart assets (including green mortgages and blue assets) and small and medium-sized enterprises (SMEs) including women SMEs (WSMEs).  The trade line will support short-term trade finance activities. The trade finance activities supported by the Project will be required to meet the requirements of the IFC's Exclusion List and other exclusions deemed necessary. The Project will not support any activities with significant E&S concerns such as: (a) involuntary resettlement; (b) risk of adverse impacts on Indigenous Peoples; (c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage; or (d) significant occupational health and safety risks. It will also not support any activities related to upstream oil & gas production and activities related to coal such as coal mining, coal transportation, coal-fired power plants, or infrastructure services exclusively dedicated to support any of these activities. IFC will review the details of the underlying trade transactions to confirm that they do not include activities in the IFC Exclusion List and any other exclusions.