Lending Proposal for the Financial Institutions Program

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Project Number: 
NA
Expected Consideration Date by the Board: 
03/30/2005
Date Posted: 
03/17/2005
Company: 
Lending Proposal for the Financial Institutions Program
Financing Requested: 
Sector: 
Financial Services
Location: 
Scope Objective: 
The goal of the Financial Institutions Program ("FIP") is to give Management the tools to rapidly expand available credit to SMEs through local financial intermediaries throughout Latin America and the Caribbean by improving efficiency and responsiveness in lending and providing guarantees to qualified financial institutions willing to increase their financing to SMEs. By expanding available credit to SMEs through eligible financial institutions, the FIP expects to increase growth of SMEs, generate more jobs, and raise the standards of living of people employed by SMEs. In dollar terms, the FIP seeks to increase IIC’s loan and guarantee approvals by approximately US$160 million in its first year.
Environmental Review: 
This is a Category III project according to the IIC's environmental and labor review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria. 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 policies. All participating Financial Institutions will be required to attend IIC´s environmental training seminar.