BANCO DE LA PRODUCCION S.A.
Status: Approved 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
Banpro is one of the top 3 largest banks in Nicaragua and an existing client of FMO since 2006. The bank is part of the Promerica Group, a long-standing partner of FMO and it plays an important role in the economic development of the country as 2/3 of its loan portfolio isdedicated to corporate and SME lending.
What is our funding objective?
The up to USD 30 mln 10-year green line is earmarked for the financing of green projects according to FMO's green eligibility criteria.
Why do we fund this investment?
A first green loan of USD 15 mln was signed with Banpro in 2014. Since then, Banpro has received green lines from other funders, has established a dedicated green team and has managed to generate a well-diversified green portfolio. This new FMO green line will allow the bank to further grow its green portfolio and to refine its green product offering. In addition, Banpro has an important role in coaching and knowledge sharing about green lines across the other Promerica Group entities, and a leadership role for the Group’s sustainable banking ambitions.
What is the Environmental and Social categorization rationale?
The transaction includes an Environmental and Social (E&S) Action Plan with the objective of strengthening the bank's E&S risk management capacity.
More investments
| Date | Total FMO financing |
|---|---|
| 11/21/2022 | USD 20.00 MLN |
| 12/2/2020 | EUR 0.13 MLN |
| 4/23/2024 | USD 15.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Nicaragua
- Sector
- Financial Institutions
- Effective date
- 1/26/2018
- Total FMO financing
- USD 15.00 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) - B