Program for Funding Specialized Financial Institutions in Mexico (IFEM, the abbreviation in Spanish)
This Program for Funding Specialized Financial Institutions in Mexico (the "Program") seeks to provide a framework for lending to and making equity investments in Specialized Financial Institutions in Mexico ("SFM"). The Program encompasses limited scope financial institutions (Sociedades Financieras de Objeto Limitado or Sofoles), multiple purpose financial companies (Sociedades Financieras de Objeto Múltiple or Sofomes), credit unions, financial leasing companies, and factoring companies. Generally, it will, preferably, include all institutions that provide financing and are neither banks nor institutions that belong to financial groups in Mexico
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, or design criteria. Each SFM under the Program will undergo an environmental review and will be required to comply with national environmental and labor laws, regulations, and standards as well as IIC policies. To enable the SFMs under the Program to better understand the IIC's requirements, each one shall be required to attend the IIC financial intermediary environmental training workshop.