BANCO DEL ISTMO
Expected Consideration Date by the Board:
Primer Banco del Istmo, S.A.
The proposed line of credit is for a Loan in the amount of US$10 million to Primer Banco del Istmo S.A.. The proceeds will be used to provide financing to small and medium-size Panamanian, Costa Rican and Honduran exporters, for foreign trade export and import operations, and for working capital related to the export and import activities.
This is a Category III project according to the IIC’s environmental and labor review procedure because specific impacts may result which 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’s to better understand the IIC’s requirements, Primer Banco del Istmo shall be required to attend IIC’s financial intermediary environmental training seminar.