Banco Santa Cruz
The proceeds of the proposed operation will help Banco Múltiple Santa Cruz, S.A. expand its lending to small and medium-size enterprises in the Dominican Republic, mainly by financing working capital and/or trade operations. The operation will help the company grow its loan portfolio and diversify its medium- and long-term sources of funding. The proposed transaction consists of a loan of up to US$2,000,000.
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. 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. To enable the Borrower to better understand the IIC’s requirements, Banco Múltiple Santa Cruz, S.A. shall be required to attend the IIC financial intermediary environmental training workshop.