The proposed transaction is based on the LACC Subordinated Debt Facility (RG-X1088) approved by the Bank¿s board in August 2010 and consists of a subordinated financing (which qualifies as Tier II capital under local regulatory requirements) of an approximate amount of US$50 million to Banco Pichincha CA, comprised of an up to US$40 million A loan provided by the IDB and an expected US$10 million B loan funded by commercial investors. IDB participation would support Pichincha¿s micro, small and medium enterprises (MSMEs) loan portfolio growth and would help to improve the competitiveness and efficient development of the Ecuadorian private sector, specifically the MSME sector.

Project Detail

Country

Ecuador

Project Number

EC-L1100

Approval Date

December 6, 2011

Project Status

Closed

Project Type

Loan Operation

Sector

FINANCIAL MARKETS

Subsector

BANKING MARKET DEVELOPMENT

Lending Instrument

BID Invest

Lending Instrument Code

IIC

Modality

PSL (Private Sector Loan)

Facility Type

-

Environmental Classification

-

Total Cost

USD 51,500,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 40,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
2688A/OC-EC Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Private Sector Financing
2688B/OC-EC-1-LX-RESFLXB Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
2688B/OC-EC-1-LX-RESMLXB Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
2688B/OC-EC-1-LX-RESPLXB Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
2688B/OC-EC-2-NE-GCMCAMB Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
Operation Number 2688A/OC-EC
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Private Sector Financing
Operation Number 2688B/OC-EC-1-LX-RESFLXB
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing
Operation Number 2688B/OC-EC-1-LX-RESMLXB
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing
Operation Number 2688B/OC-EC-1-LX-RESPLXB
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing
Operation Number 2688B/OC-EC-2-NE-GCMCAMB
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing

Can’t find a document? Request information

 Preparation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-57452808-2
Project Abstract
Project Abstract - Banco Pichincha Subdebt Facility [36234988].PDF
Jun. 15, 2011
English

Have an Environmental or Social issue related to IDB projects? File a Complaint