Banco de Finanzas II
The proposed project consists of a long-term loan of up to US$10 million to Banco de Finanzas. The loan proceeds will be used to finance small and medium-size Nicaraguan enterprises that require medium- and long-term funds to finance expansions, the acquisition of fixed assets or machinery, or working capital
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. To enable the bank to better understand the IIC's requirements and become familiar with the operating procedures that leading financial institutions are implementing in response to global environmental issues, the bank has agreed to send two individuals to the IIC financial intermediary environmental training workshop.