Banco Bilbao Vizcaya Argentaria Panamá S.A.

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IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
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E-mail: mecanismo@iadb.org or MICI@iadb.org

Project Number: 
PN3746A-02
Expected Consideration Date by the Board: 
07/26/2010
Date Posted: 
06/25/2010
Company: 
Banco Bilbao Vizcaya Argentaria Panamá S.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Panama City
Country: 
Scope Objective: 

The project consists of a US$20 million loan to Banco Bilbao Vizcaya Argentaria Panamá S.A. The loan proceeds will be used to provide financing to eligible small and medium-size enterprises in Panama for general corporate purposes, including working capital and revolving credit facilities. Eligible enterprises shall not exceed US$10 million in assets or yearly revenue.

Environmental Review: 

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 borrower to better understand the IIC’s requirements, Banco Bilbao Vizcaya Argentaria Panamá S.A. shall be required to attend the IIC financial intermediary environmental training workshop. 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 environmental guidelines.