Banco Bolivariano C.A.

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IIC’s Communications Group
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Project Number: 
EC3622A-01
Expected Consideration Date by the Board: 
09/28/2005
Date Posted: 
08/19/2005
Company: 
Banco Bolivariano C.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Country: 
Scope Objective: 
The proposed line of credit is for a loan in the amount of US$7 million to Banco Bolivariano C.A. The proceeds will be used to provide financing to small and medium-size Ecuadorian companies, for working capital or to finance capital assets, machinery or other fixed asset purchases.

Environmental Review: 

Environmental Classification and Issues: This is a Category III project according to the IIC’s environmental and labor review procedure because specific impacts may result that can be avoided or mitigated by adhering to 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 policies. To enable the Borrower to better understand the IIC’s requirements, Banco Bolivariano C.A. shall be required to attend IIC’s financial intermediary environmental training seminar.