SUDAMERIS BANK S.A.E.C.A.
Status: Completed investmentWhy disclosure?
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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
Sudameris Bank is a mid-sized bank in Paraguay offering a full range of banking services. The main focus of the bank is the corporate sector, with market shares between 6 and 13% in the agriculture, cattle, industrial and large commercial segments.
What is our funding objective?
FMO provided capacity development (CD) funding to Sudameris Bank in order to support the development of an environmental and social sector guide, which will be applied to their financing activities in the cattle sector. This sector is associated with deforestation issues, and the role of banks in minimizing environmental damage is seen as increasingly important. The CD grant will be used to engage an expert consultant to develop the guide, undertake formal training of bank staff and to do on-the-job training (i.e. field visits) with key Sudameris staff.
Why do we fund this investment?
The sector guide will support Sudameris in making its financing activities more environmentally and socially sustainable. The impact of this investment will also extend beyond the client, as the sector guide will be shared with other Paraguayan banks that participating in Mesas Sostenibles, a roundtable on sustainable finance. Improving environmental and social standards, both at client level and at sector level, are important to shifting mindset and eventually reality in Paraguay, towards a more sustainable development path.
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| 12/16/2022 | USD 40.00 MLN |
| 11/18/2020 | EUR 0.03 MLN |
| 10/20/2020 | USD 40.00 MLN |
| 12/19/2019 | USD 40.00 MLN |
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| 6/17/2022 | USD 10.00 MLN |
| 1/4/2021 | USD 10.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Paraguay
- Sector
- Financial Institutions
- Effective date
- 12/4/2014
- End date
- 8/14/2018
- Total FMO financing
- EUR 0.03 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