Beccar Varela advises International Finance Corporation on financing to Banco Itaú Argentina worth US$50,000,000.
Buenos Aires, December 21st, 2018. International Finance Corporation (“IFC”), member of the World Bank Group, granted a credit facility to Banco Itaú Argentina for a total amount of US$50,000,000.
Banco Itaú Argentina will use 70% of the loan funds to finance “green” initiatives, expecting annual savings in greenhouse gas emissions by more than 35,000 tons of CO2. These sustainable energy initiatives will be certified under the “Green Loan Principles”. The bank will use the 30% funds remaining to finance small and medium-sized companies.
Counsel to IFC
In-house counsel Paola Morales.
Beccar Varela: partner Pablo José Torretta and associates Carolina Serra, Ivana Inés Grossi and Andrés Schreiber.
Counsel to Banco Itaú Argentina
In-house counsel Luis María Vaini and Leonardo Andrés Micucci.