Ficohsa

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Project Number: 
HO1028A-01
Expected Consideration Date by the Board: 
01/27/1999
Date Posted: 
04/30/1999
Company: 
Banco Financiera Comercial Hondureña, S.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Honduras, with headquarters in Tegucigalpa, and 32 branches in the most country’s important geographic zones
Country: 
Scope Objective: 
The project consists of a 7 year US$4.0 million senior loan and a US$3.0 million subordinated loan to Ficohsa. The senior loan will be used to provide small and medium-size Honduran enterprises with medium and long-term financing otherwise unavailable in the country. The subordinated loan will strengthen Ficohsa’s capital structure and will also be used for on-lending to Honduran companies in productive sectors.

The project is expected to result in the creation of about 450 jobs and contribute US$45.0 million to the annual Honduran GDP.
Environmental Review: 
This is a category III project according to the IIC’s environmental review procedures.

Each sub loan will be subject to an environmental review and must comply with Honduran environmental laws, regulations and standards, as well as applicable policies of the IIC.