Program for Funding Specialized Financial Institutions in Mexico (IFEM, the abbreviation in Spanish)

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: 
ME3755A-01
Expected Consideration Date by the Board: 
07/19/2007
Date Posted: 
06/19/2007
Company: 
Not Applicable
Financing Requested: 
Sector: 
Financial Services
Location: 
Country: 
Scope Objective: 

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 Review: 

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.