Project detail - BANCO DE LA PRODUCCION S.A. PRODUBA

BANCO DE LA PRODUCCION S.A. PRODUBA

Status: Approved investment
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Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

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

Banco de la Produccion S.A. - Produbanco (Produbanco) is a universal bank in Ecuador, owned by the Promerica financial group - a long standing client of FMO. Produbanco is the fourth largest bank in Ecuador with Total Assets amounting to USD 3.5 billion.

What is our funding objective?

Produbanco and FMO will further develop green lending opportunities in Ecuador through the Green Lines (Líneas Verdes) product portfolio and a strengthening of the Environmental, Social and Governance risk assessment through SARAS (the bank’s social and environmental risk assessment system).

Why do we fund this investment?

FMO focuses on fostering sustainable economic growth in emerging economies, whereby green finance products are instruments to help forward-thinking financial institutions take advantage of new market opportunities within their existing portfolio or to acquire new clients.

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Region
Latin America & The Caribbean
Country
Ecuador
Sector
Financial Institutions
Effective date
8/29/2018
Total FMO financing
EUR 0.04 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