BANCO DE INVERSION Y COMERCIO EXTER
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco de Inversion Y Comercio Exterior SA (BICE) is a Development Bank based in Argentina. BICE is focusing on financing of investments of small and medium enterprises (SME’s) by granting medium to long-term loan facilities. As long-term financing is scarce in Argentina, BICE is an important provider to an underserved SME market.
What is our funding objective?
The Framework Agreement is an uncommitted facility between BICE and FMO/Nedlinx which will be used to fund upcoming commercial transactions between Dutch exporters and Argentine importers. FMO/Nedlinx will fund BICE who will on-lend the funds to the buyer of the Dutch exported goods.
Why do we fund this investment?
In Argentina about 80% of the SME’s have very limited access to financing. This limits the ability of Dutch exporters to sell to Argentina. Any underlying financing transaction will have to fit within FMO’s mandate on assisting Dutch SME exporters in emerging markets. The Framework Agreement is of strategic importance because it serves both Dutch and Argentine SME’s.
What is the Environmental and Social categorization rationale?
The underlying individual transactions are not yet known. The expected E&S category depends on the upcoming commercial transactions that are to be financed. For any transaction to be funded under the Framework Agreement the E&S category requirement should be B+ or better.
- Region
- Latin America & The Caribbean
- Country
- Argentina
- Sector
- Financial Institutions
- Publication date
- 11/15/2018
- Effective date
- 4/24/2019
- Total FMO financing
- USD 30.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A