Pentágono

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IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org

Project Number: 
ES3410A-01
Expected Consideration Date by the Board: 
01/06/2014
Date Posted: 
11/19/2013
Company: 
Factoraje Pentágono S.A.
Sponsoring Entity: 
Not applicable
Financing Requested: 
Loan of up to US$500,000
Sector: 
Financial Services
Location: 
San Salvador, El Salvador
Country: 
Scope Objective: 

The proceeds of this loan will be used to provide financing to small and medium-sized enterprises in El Salvador through loans for working capital and the modernization and/or growth of these enterprises, based on eligibility criteria to be established by the IIC.

Environmental Review: 

Environmental and Labor Issues:

This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered low risk. In order to improve the evaluation of the labor and environmental aspects of its operations, Pentágono will be required to attend the IIC’s environmental training workshop for financial intermediaries and develop a sustainable management system that includes a policy and procedures for evaluating its clients from an environmental standpoint.

Eligible Enterprises financed with IIC funds will be subject to an environmental review and must comply with national environmental and labor laws, regulations, and standards, as well as IIC environmental guidelines. Pentágono must also submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices.