Banco BICE III

For inquiries and comments to IIC, contact:
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: 
CH3742A-03
Expected Consideration Date by the Board: 
07/16/2013
Date Posted: 
06/14/2013
Company: 
Banco BICE
Sponsoring Entity: 
Not applicable
Financing Requested: 
Loan of up to US$30 million
Sector: 
Financial Services
Location: 
Santiago
Country: 
Scope Objective: 

The project consists of a long-term IIC loan of up to US$30 million to Banco BICE. The proceeds of the loan will be used to meet the financing needs of Banco BICE customers operating in a variety of sectors of the economy, including agriculture, agro-industry, manufacturing, construction, and services.

Banco BICE is a medium-sized all-purpose bank based in Santiago, Chile. It offers commercial and retail banking products to individuals and companies.

Environmental Review: 

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 BICE has attended the IIC’s environmental training workshop for financial intermediaries and has a set of policies and procedures in place to evaluate its customers from the environmental standpoint. Banco BICE has incorporated these policies and procedures into a sustainable management system. Each subproject financed with IIC funds will undergo an environmental review and must comply with national environmental and labor laws, regulations, and standards, as well as the IIC’s environmental guidelines. Banco BICE submits annual environmental reports to the IIC detailing its progress and any problems encountered in the implementation of these practices.