Banco del Austro S.A.

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IIC’s Communications Group
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Project Number: 
EC3877A-01
Expected Consideration Date by the Board: 
03/15/2011
Date Posted: 
02/07/2011
Company: 
Banco del Austro S.A.
Financing Requested: 
US$2,000,000
Sector: 
Financial Services
Location: 
Ecuador
Country: 
Scope Objective: 

Banco del Austro S.A. is a private bank headquartered in Cuenca, Ecuador, that provides a full line of financial services to its clients. Banco del Austro S.A. is part of Grupo Eljuri’s financial division. The purpose of the IIC project is to support the bank’s lending activities and partially fund the growth of its SME portfolio in Ecuador. The IIC’s US$2 million loan will enable Banco del Austro to expand its medium-term funding.

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. To enable the Borrower to better understand the IIC’s requirements, Banco del Austro 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.