Mibanco Banco de la Microempresa S.A.
The proposed line of credit is for a loan in nuevos soles in the amount of up to the equivalent of a US$7 million to Mibanco Banco de la Microempresa S.A. The proceeds will be used to provide financing to small and medium-size Peruvian companies, for working capital or to finance equipment, machinery or other fixed asset purchases.
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, Mibanco Banco de la Microempresa S.A. shall be required to attend IIC’s financial intermediary environmental training seminar.