Expected Consideration Date by the Board:
Eurocapital has been active since 1998 in the purchase with recourse of invoices, bills of exchange, checks, contracts, and other documents issued by small and medium–size businesses in the normal course of their business. The proposed project consists of a US$3 million loan to Eurocapital S.A. The IIC Loan will enable Eurocapital to develop its business of factoring documents, in dollars or indexed to the dollar, related primarily to export sales by small and medium-size companies. These companies must meet the IIC’s eligibility criteria.
This is a Category III project according to IIC’s environmental and labor review procedures because specific impacts might result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria. Eligible Companies will be required to comply with national environmental and labor laws, regulations, and standards as well as IIC policies. To improve the labor and environmental assessment of its operations, Eurocapital S.A. staff members will be required to attend the IIC’s environmental seminars.