BANCO CONTINENTAL S.A.E.C.A.
Status: Completed investmentWhy disclosure?
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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 Continental is Paraguay’s largest lender to SMEs and corporate entities. The bank has proven itself as a front runner on environmental and social (E&S) risk management in Paraguay, illustrated by for instance the hiring of three E&S staff, implementation and subsequent improvement of an Environmental Social Management System (ESMS), development of a monitoring system based on satellite images and its participation in the "Mesa de Finanzas Sostenibles" (the E&S sector initiative in Paraguay).
What is our funding objective?
The aim of the funding is to develop an E&S guide for the agri and cattle supply chain. The development of the guide will be led by Banco Continental, with the support of FMO, IDB, and MACSSO consultant Leandro Labbe. The E&S guide will be integrated with the existing agri and cattle guide set up by Banco Regional and Sudameris, respectively. The E&S guide will be compliant with Paraguayan E&S regulation and recommend improved practises based on IFC’s Performance Standards and the World Bank’s Environmental, Health, and Safety guidelines.
Why do we fund this investment?
The project is closely aligned with FMO’s strategy to create social, environmental, and economic impact. The role of banks is increasingly important in reducing environmental damage. The E&S guide reduces the Banco Continental’s exposure to E&S risks, safeguards the local ecosystem and natural resources, and facilitates access to international markets to the bank’s clients in the agri and cattle supply chain. The project creates high impact beyond Banco Continental and its clients as the sector guide will be publicized and shared with other Paraguayan banks that participate in the sector initiative (the "Mesa").
More investments
| Date | Total FMO financing |
|---|---|
| 7/23/2021 | USD 15.00 MLN |
| 7/13/2021 | USD 13.00 MLN |
| 7/25/2019 | USD 21.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Paraguay
- Sector
- Financial Institutions
- Effective date
- 7/12/2016
- End date
- 8/27/2018
- Total FMO financing
- EUR 0.04 MLN
- Funding
- FMO NV
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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