Banco de Finanzas, S.A.
The purpose of this IIC loan is to support the lending activities of Banco de Finanzas, S.A., geared to providing medium- and long-term financing to small and medium-sized Nicaraguan enterprises in various economic and productive sectors, among them industry, commerce, agriculture, and services.
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. To be better informed about IIC requirements, representatives of Banco de Finanzas, S.A. attended the IIC’s environmental training workshop for financial intermediaries in 2007, and the bank now has an environmental management system. 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 environmental guidelines.