CIFI Latam, S.A.
Region and country of operations: LMIC and LDC countries in Latin America and the Caribbean
Jurisdiction of registration: Panama
Business sector: Financial institution
Date of agreement (month/year): 2/2021
Finnfund’s financing: USD 15,000,000
Share of Finnfund’s financing: 100%
Size of project/financing: USD 15,000,000
Environmental and social category: FI-A
CIFI Latam is a subsidiary of Corporación Interamericana para el Financiamiento de Infraestructura, S.A (CIFI), which is a non-bank financial institution in Latin America and the Caribbean specializing in infrastructure and energy financing.
Founded in 2001, it has an international credit risk rating of BB- by Fitch. On top of financing, CIFI provides structuring and advisory services and asset management services. CIFI has received an USD 15 milliom senior non-secured loan in order to finance non-fossil fuel infrastructure projects in LMIC and LDC countries in its target region.
Main development impact
CIFI considers itself as a partner specifically to midsize companies helping these companies to structure transactions and to tap into the regional and international financing. Furthermore, it has capability and willingness to structure transactions that commercial banks are not willing to do.
Almost 50% of CIFI’s finaning is allocated to renewable energy and environment related projects. Finnfund’s loan to CIFI is classified as 2X-gender investment