Banco Daycoval S.A.
The project consists of a loan for US$15 million to Banco Daycoval S.A. The proceeds will be used to provide financing to eligible small and medium-size enterprises in Brazil for general corporate purposes, including working capital and revolving credit facilities. Eligible enterprises shall not exceed US$20 million in assets or yearly revenue.
Environmental and Labor Issues:
This is a category III project according to the IIC’s environmental and labor review procedure because it could produce certain effects that may be avoided or mitigated by following generally recognized performance standards, guidelines, or design criteria. Banco Daycoval S.A. has attended the IIC financial intermediary environmental training workshop and agrees to retain on its staff at least one employee who attended said workshop. Each subproject 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.