Fondo de Desarrollo Local

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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: 
NI3882A-01
Expected Consideration Date by the Board: 
03/11/2014
Date Posted: 
02/06/2014
Company: 
Fondo de Desarrollo Local (“FDL”)
Sponsoring Entity: 
Not applicable
Financing Requested: 
Loan of up to US$500,000
Sector: 
Financial Services
Location: 
Managua, Nicaragua
Country: 
Scope Objective: 

The proceeds of the loan will be used to provide micro, small, and medium-sized enterprises in Nicaragua with financing through eligible loans, pursuant to eligibility criteria to be set 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. FDL will be required to develop an environmental and social management system (ESMS) with a component to ensure that activities financed with IIC funds are not found on the IIC’s list of excluded activities and that they comply with domestic environmental and occupational safety standards. In addition, FDL will be required to submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of its ESMS. To enable the Borrower to better understand the IIC’s requirements, FDL will be required to attend the IIC’s environmental training workshop for financial intermediaries.