Financia Capital S.A.

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Project Number: 
NI3855A-01
Expected Consideration Date by the Board: 
09/10/2013
Date Posted: 
08/01/2013
Company: 
Financia Capital S.A.
Financing Requested: 
Loan of up to US$500,000
Sector: 
Financial Services
Location: 
Managua, Nicaragua
Country: 
Scope Objective: 

The proceeds of the loan will be used to provide micro, small, and medium-sized enterprises in Nicaragua with financing through eligible loans, pursuant to eligibility criteria to be set by the IIC.

Environmental Review: 

This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered low risk. Financia Capital S.A. will be required to develop an environmental and social management system (ESMS) with a component to ensure that activities financed with IIC funds are not found on the IIC’s list of excluded activities and that they comply with national environmental and occupational safety standards. Moreover, Financia Capital S.A. will be required to submit annual environmental reports to the IIC detailing the progress made and problems encountered in the implementation of its ESMS. To enable the Borrower to better understand the IIC’s requirements, Financia Capital S.A. will be required to attend the IIC’s environmental training workshop for financial intermediaries.