Banco de Galicia y Buenos Aires S.A. (2019)

Adoption Date: 19 Mar 2007
Country of Headquarters: Argentina
Region of Headquarters: Latin America
Current EPFI Reporting Year/Period: 2019
Institutional Reporting: Link to Report

 

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.

Project Finance Advisory Services

Total number mandated in the reporting period: 0

Project Finance Transactions

Total number that reached Financial Close in the reporting period: 3

Equator Principles Category A1 B2 C3
Sector
Mining
Infrastructure
Oil & Gas
Power 3
Others
Region
Americas 3
Europe, Middle East & Africa
Asia Pacific
Country Designation
Designated Country4
Non Designated Country 3
Independent Review
Yes 1
No 2
Totals 3
1

Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.

2

Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.

3

Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.

4

Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. See list of Designated Countries.

Project-related Refinance & Project-related Acquisition For Project Finance

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)

Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 3

Under EP4, project name reporting is required for Project Finance transactions that have reached Financial Close and encouraged for Project-Related Corporate Loans that have reached Financial Close.

Project-Related Corporate Loans

Total number that reached Financial Close in the reporting period: 0

Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Implementation of the Equator Principles

Banco Galicia is committed to complying with Equator Principles, as part of it´s environmental policy in credit process.
In case of ” Project Finance ” Ecuador Principles apply as provided therein. For “Project related corporate loans” the Principles are a framework for analysis and management of environmental risk in all long-term credit operations, as long as the amount requested is equal to or more than u$s 20.000.000 (dollars). In these cases an assessment of the environmental and social risks of the project and the customer is required to evaluate their commitment, ability, behavior and record in relation to these issues. In cases classified as Equator Principles, the analyst must define the final categorization of the project according to the level of risk (A, B or C), then the environmental opinion is issued. If deemed appropriate or relevant for Equator Principles a monitoring plan will be implemented. For this cases analyzed monitoring evaluations will be conducted at least annually. Also environmental covenants are included in loan agreement.
All mentioned is applicable to new customers as well as new credit operations from existing customers.

Different areas at the Bank are involved in the process. Commercial staff are in contact with the client, gathering all relevant information and documents; Credits Area performs both credit and environmental risk analysis of operation; Credit Commitee makes final decision.

Further information is available (in Spanish) here.