BANCO CONTINENTAL S.A.E.C.A.
Who is our client
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).
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 we fund this project
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").
|Date||Total FMO financing|
|7/25/2016||USD 15.00 MLN|
|11/13/2014||USD 13.00 MLN|
|12/17/2013||USD 21.00 MLN|
- Latin America & The Caribbean
- Financial Institutions
- Signing date
- Total FMO financing
- EUR 0.04 MLN
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)