municipal markets in El Salvador through financing and technical assistance for the
construction, remodeling, and upgrading of physical, technological, functional, and
business and administrative management infrastructure to improve the proposals
and the competitiveness and income of microentrepreneurs as well as sanitary and
environmental conditions for Salvadoran communities. To attain this objective, the
Opportunities for the Majority (OMJ) Sector proposes to grant a credit facility to
the Federation of Savings and Loan Associations and Workers¿ Banks
(Fedecrédito) for up to US$20 million, composed of an A loan for US$10 million
with resources from the OMJ Facility, subject to market conditions, and a B loan to
be syndicated to international lenders, for approximately US$10 million (or an
amount to be determined depending on market conditions). Fedecrédito, a secondtier financial institution, will channel the funds to member institutions in its
system 48 savings and loan associations and seven workers¿ banks¿and they, in
turn, will channel them through 115 agencies located around the country to the
municipalities that administer the markets. Specifically, for the purposes of the
project, the loans to finance the construction or upgrading of municipal markets will be granted based on need and the ability to pay of each municipality.
Project Detail
Country
El Salvador
Project Number
ES-L1038
Approval Date
December 3, 2010
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 16,000,000.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 10,000,000.00
| Operation Number | Lending Type | Reporting Currency | Reporting Date | Signed Date | Fund | Financial Instrument |
|---|---|---|---|---|---|---|
| 2478A/OC-ES | Non-Sovereign Guaranteed | USD - United States Dollar | Ordinary Capital | Private Sector Financing | ||
| 2478B/OC-ES-1 | Non-Sovereign Guaranteed | USD - United States Dollar | Ordinary Capital | Participant Financing | ||
| 2478B/OC-ES-2 | Non-Sovereign Guaranteed | USD - United States Dollar | Ordinary Capital | Participant Financing |
- Lending Type: Non-Sovereign Guaranteed
- Reporting Currency: USD - United States Dollar
- Reporting Date:
- Signed Date:
- Fund: Ordinary Capital
- Financial Instrument: Private Sector Financing
- Lending Type: Non-Sovereign Guaranteed
- Reporting Currency: USD - United States Dollar
- Reporting Date:
- Signed Date:
- Fund: Ordinary Capital
- Financial Instrument: Participant Financing
- 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
https://www.iadb.org/document.cfm?id=EZSHARE-1078898368-2
Environmental and Social Management Reports
Informe de Gestión Ambiental y Social (ES-L1038) [35428481].PDF
Dec. 31, 1999
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1078898368-3
Project Profile
Estrategia Ambiental y Social (ESS) - Financiamiento para la Modernización de los Mercados Municipales en El Sal [35338160].PDF
Dec. 31, 1999
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1078898368-4
Project Profile
Abstracto de Proyecto - Financiamiento para la Modernización de los Mercados Municipales en El Salvador [35338148].PDF
Dec. 31, 1999
Spanish
Have an Environmental or Social issue related to IDB projects? File a Complaint