Scotia Leasing Costa Rica, S.A. and Scotiabank de Costa Rica, S.A.

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: 
CR3969A-01
Expected Consideration Date by the Board: 
06/26/2012
Date Posted: 
05/25/2012
Company: 
Scotia Leasing Costa Rica, S.A. and Scotiabank de Costa Rica, S.A.
Financing Requested: 
Up to US$20 million
Sector: 
Financial Services
Location: 
Costa Rica
Country: 
Scope Objective: 

Through this project, the IIC intends to support Scotia Leasing Costa Rica, S.A. and Scotiabank de Costa Rica, S.A. in their credit and leasing activities aimed at financing small and medium-sized Costa Rican enterprises in the country’s various productive sectors.

Environmental Review: 

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.  Grupo Scotiabank has a corporate social responsibility policy for managing risk and the environmental and social issues associated with its financial operations.  Grupo Scotiabank is also a signatory to the Equator Principles, which are the financial sector’s standard for environmental and social management in project financing. To enable the Borrower to better understand the IIC’s requirements, Scotia Leasing Costa Rica, S.A. and Scotiabank de Costa Rica, S.A. shall be required to attend the IIC financial intermediary environmental training 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.