Banco Bolivariano

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: 
EC3622A-03
Expected Consideration Date by the Board: 
07/23/2013
Date Posted: 
06/20/2013
Company: 
Banco Bolivariano C.A. (“Banco Bolivariano”)
Sponsoring Entity: 
Not applicable
Financing Requested: 
Loan of up to US$7 million
Sector: 
Financial Services
Location: 
Guayaquil
Country: 
Scope Objective: 

Established in the city of Guayaquil on April 19, 1979, Banco Bolivariano began operations on March 13, 1980. The bank’s purpose is to offer financial services to individuals, companies, and SMEs through products such as savings accounts, loans, wire transfers, and insurance policies.

The purpose of the IIC loan is to finance eligible projects through eligible enterprises.

Environmental Review: 

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. Representatives of Banco Bolivariano have attended the IIC’s financial intermediary environmental training workshop. The bank also has an environmental policy and an environmental management system in place to review its lending operations. Each subproject financed with IIC funds will undergo an environmental review and must comply with national environmental and labor laws, regulations, and standards, as well as the IIC’s environmental guidelines. Banco Bolivariano will continue to provide the IIC with annual environmental and social monitoring reports to ensure compliance with local and IIC environmental requirements.