Banco Improsa S.A.
The project consists of a long-term loan of up to US$10 million to Banco Improsa. The loan proceeds will be used to finance the growth of the residential mortgage portfolio.
Environmental Classification and 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. All mortgage loans 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. The borrower has already attended the IIC financial intermediary environmental training workshop.