BIO has granted USD 10 K of technical assistance to Banco Popular, a Honduran microfinance institution.
Type of investment
Banco Popular is a regulated Honduran MFI that focuses on alleviating poverty by offering a broad range of products to the micro, SME, housing (improvement), consumer and agricultural segments. These products include working capital loans, capex loans, unsecured loans to communities and deposits/ savings accounts. On the liability side, the Bank captures savings and deposits. Banco Popular’s mission is to “meet the needs of families in the popular economic sectors of Honduras, actively promoting social development and the responsible use of the country's natural resources.
The technical assistance aims at updating Banco Popular’s Social Rating and performing a Social Audit SPI4, to measure the Bank’s progress with its own social-environmental responsibility agenda in line with the SDGs, and to evaluate its capacity to apply its mission in practice and achieve its social-environmental goals.
Thanks to this technical assistance, Banco Popular will be able to measure its progress towards its E&S objectives and its performance against the benchmarks in the sector, and identify areas of improvements accordingly. The Social Rating and the SPI4 will allow the Bank to understand how to strengthen its ESMS and how to better align it to ESG best practices.
Read impact and news about this project
BIO raises its stake in Banco Popular
BIO raises its stake in Banco Popular, the biggest microfinance institution in Honduras, to 26.60% in shareholder reshuffling.
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