Financiera Desyfin S.A.
Financiera Desyfin S.A. is one of Costa Rica’s major factoring companies. It works mainly with small and medium-size Costa Rican enterprises. The purpose of this IIC project is to support Financiera Desyfin’s lending activities and fund the growth of its credit portfolio. The IIC loan would enable Desyfin to diversify its sources of funding and complement the support the company has received from the Multilateral Investment Fund.
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. Each subproject will undergo an environmental review and will be required to comply with national environmental and labor laws, regulations and standards as well as IIC environmental guidelines. To enable the borrower to better understand the IIC’s requirements, Financiera Desyfin S.A. shall be required to attend the IIC’s financial intermediary environmental training workshop.