BANCO COMPARTAMOS II
Banco Compartamos is Mexico’s leading microcredit institution. It seeks to meet the needs of Mexico’s most underprivileged, through loans to small companies owned primarily by women living in rural areas. The purpose of this IIC project is to support Compartamos’ lending activities and geographic expansion by investing in said institution in the form of a deposit. The investment will be documented by a fixed-term nonmarketable certificate of deposit backed by Compartamos. With this project the IIC would help Compartamos increase its base of institutional investors.
Environmental Classification and 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, and design criteria. Compartamos is aware of IIC requirements because it has already attended the IIC’s financial intermediary environmental training seminar. Each subproject will be subject to an environmental review and must comply with national environmental and labor laws, regulations, and standards as well as the IIC’s environmental guidelines.