BANCO INTERNACIONAL S.A (ECUADOR)
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.
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.
|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|
- Latin America & The Caribbean
- Financial Institutions
- Signing date
- Total FMO financing
- USD 20.00 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)