Findesa
Project Number:
NI3005A-01
Expected Consideration Date by the Board:
09/22/2004
Date Posted:
08/13/2004
Company:
Financiera Nicaragüense de Desarrollo S.A.
Financing Requested:
Sector:
Financial Services
Location:
Managua
Country:
Scope Objective:
The proposed project consists of a medium-term loan of up to US$900,000 to Financiera Nicaragüense de Desarrollo S.A. The loan proceeds will be used to finance micro, small and medium-size Nicaraguan enterprises that require short- and medium- term funds to finance working capital and/or the acquisition of fixed assets or machinery.
Environmental Review:
Environmental Classification and Issues:
This is a Category III project according to the IIC's environmental and labor review procedure because specific impacts may result that 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. To enable the borrower to better understand the IIC's requirements, one of its employees shall be required to attend IIC's financial intermediary environmental training seminar.
This is a Category III project according to the IIC's environmental and labor review procedure because specific impacts may result that 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. To enable the borrower to better understand the IIC's requirements, one of its employees shall be required to attend IIC's financial intermediary environmental training seminar.
