BAC Honduras is seeking up to $400 million in financing from the IDB Group and International Finance Corporation to support its ESG lending agenda, a company executive told LatinFinance.
Gabriel de Lamare, treasury and finance director, said the bank has requested a five-year, $200 million financing deal from IDB. The financing is structured as a green and social A/B loan focused on three sustainability pillars: lending to SMEs, women-led businesses and green initiatives, he said.
The French government’s private sector development lender Proparco is also participating in the transaction.
The Tegucigalpa-headquartered bank is also seeking a four-year, $200 million loan from IFC, the World Bank Group’s private-sector arm, De Lamare said. It will use the proceeds for on-lending to SMEs, climate- and gender-related projects and mortgages, he said.
Both the IDB and IFC deals are still pending approval by the multilateral lenders, he added.
OPEC LOAN
BAC Honduras has also lined up a three-year, $50 million loan from the Organization of the Petroleum Exporting Countries.
OPEC’s Fund for International Development has already approved the financing, which will support the bank’s lending to SMEs, among other areas, De Lamare said.
“We consider OPEC’s operation highly significant because they are returning to Central America, a market that, for their own strategic reasons, had previously been outside their scope,” he said.
BAC Honduras is a subsidiary of BAC Credomatic, Central America’s biggest financial services company, which also operates in Guatemala, El Salvador, Costa Rica, Panama and Nicaragua.