BI Climate & SME Loan 2023

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 The proposed project is an up to US$220 million financing package for Banco Industrial S.A. (“Banco Industrial” or the “Bank”) in Guatemala, consisting of: (i) an up to US$170 million senior unsecured A loan for IFC’s own account (IFC A Loan), part of which benefits from (ii) up to US$75 million unfunded mobilization through the MCCP FIG 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$95 million, and (iii) a trust loan of up to US$50 million from IFC acting in its capacity as the implementing entity for the Managed Co-Lending Portfolio Program (MCPP). The loan proceeds will be used to fund the growth of the Bank’s small and medium enterprise (SME) and climate-related assets , which is expected to be at least the 40% of the proceeds (the Project). The proposed senior unsecured IFC A Loan will have a maturity of up to 4-years, with a 1-year grace period.