Project detail - BANCO INTERNACIONAL S.A (ECUADOR)

BANCO INTERNACIONAL S.A (ECUADOR)

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Who is our client

Banco Internacional is part of Grupo Fierro, a Spanish-owned conglomerate comprising among others of Banbif in Peru, a former client of FMO. Banco Internacional was established in 1973 and was the first Ecuadorian bank to join the SWIFT network in 1981. Banco Internacional is recognized as a safe, solid bank focused on corporates and a leader in international trade finance. Banco Internacional is a top performer of the Ecuadorian banking system in terms of portfolio quality, efficiency and growth.

Funding objective

FMO will fund USD 20 mln of a USD 50 mln arranged facility. The funds will be partly used for on-lending to women-owned small and medium-sized enterprises in Ecuador and for on-lending to other small and medium-sized enterprises in Ecuador.

Why we fund this project

FMO financing will be directed to Women SME’s and SME clients which helps develop the Ecuadorian economy and supports (formal) job creation.

Environmental and social rationale

FI E&S Category B. Banco Internacional is compliant with IFC’s exclusion list and has an Environmental and Action Plan in place.

More investments

Date Total FMO financing
7/31/2020 USD 20.00 MLN
6/21/2017 USD 30.00 MLN
5/18/2016 USD 20.00 MLN
Region
Latin America & The Caribbean
Country
Ecuador
Sector
Financial Institutions
Signing date
11/27/2018
Total FMO financing
USD 20.00 MLN
Fund
FMO
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