Promigas: Brilla Non-banking Financing Program
The objective of the project is to scale the ¿Brilla¿ non-banking access to finance program in Colombia and support its possible replication in Peru. ¿Brilla¿ was developed by Promigas S.A E.S.P, a gas distribution company operating in the Caribbean and Valle del Cauca regions, which leverages its utilities platform to provide financing to previously unbanked Base of the Pyramid (BOP)[1] individuals. ¿Brilla¿ is similar in nature to the Financiación Social Program from EPM (Empresas Públicas de Medellín) (CO-L1080)[2], in that the credit methodology is based on the history of the gas connection payment records of its customers in order to offer its client base access to credit lines to purchase specific products that improve their quality of life, including materials for home improvements, energy-efficient appliances, IT products, and education In order to replicate and scale this successful model, the IDB is proposing to provide a senior A loan of up to $20 million and a B-Loan of around $30 million to Promigas S.A E.S.P allowing the company not only to scale Brilla, but also to offer new products and services under the program, such as microinsurance, and student loans.

Project Detail

Country

Colombia

Project Number

CO-L1089

Approval Date

November 13, 2013

Project Status

Cancelled

Project Type

Loan Operation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

BID Invest

Lending Instrument Code

IIC

Modality

PSL (Private Sector Loan)

Facility Type

-

Environmental Classification

-

Total Cost

USD 50,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 20,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
3074A/OC-CO Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Private Sector Financing
3074B/OC-CO Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
Operation Number 3074A/OC-CO
  • 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 3074B/OC-CO
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing

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 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-368949077-1171
Agreement - Financial Closing - SCF
Colombia_ Loan 3074_OC-CO to Promigas S_A_ E_S_P_ [38157413].PDF
Jan. 21, 2015
English
https://www.iadb.org/document.cfm?id=EZSHARE-368949077-1169
Agreement - Financial Closing - SCF
Colombia_ Préstamo 3074_OC-CO a Promigas S_A_ E_S_P_ [38157407].PDF
Jan. 21, 2015
Spanish
 Preparation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-368949077-1170
Environmental and Social Management Reports
ESMR Promigas [38119422].PDF
Oct. 07, 2013
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-368949077-1172
Environmental and Social Strategies
ESS PROMIGAS [38108679].PDF
Sep. 30, 2013
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-282907506-2
Project Abstract
Abstracto del Proyecto [38108623].PDF
Sep. 30, 2013
Spanish

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