Sudameris S.A.E.C.A. is a medium-sized universal bank (5th largest Paraguayan bank in terms of loans). It plays a major role in financial intermediation in Paraguay and offers financial products and services to large companies, SMEs and individuals in the country.
The project involves setting up a USD 120m operation in the form of a loan (Friendship Facility, DEG lead, Proparco and FMO followers) for green financing and Paraguayan SMEs).
Positive impacts are expected on the climate and in social terms:
- About 90% of the loan, i.e. EUR 34m, should finance projects that contribute to climate change mitigation and adaptation. More generally, Banco Sudameris, as a member of the United Nations Environment Programme Finance Initiative (UNEP FI), has pledged to promote and implement good practices for the management of environmental and social risks. The bank is already a pioneer in this field in the country and the MERCOSUR region.
- In social terms, the project will support employment for local people. Banco Sudameris currently has just over 400 employees and the project should create about thirty additional direct jobs by 2023 and support over 22,000 indirect jobs in the client companies of Banco Sudameris.
This information is given at the time of signature, without prejudice to any developments in the operation/project