Banco Aliado, 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.
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Fax: +1 (202) 312-4057
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Project Number: 
PN3758A-01
Expected Consideration Date by the Board: 
08/31/2010
Date Posted: 
06/25/2010
Company: 
Banco Aliado, S.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Panama City
Country: 
Scope Objective: 

Banco Aliado, S.A. is wholly-owned by Panamanian investors. The project consists of a US$10 million, three-year loan for providing financing to small and medium-size enterprises. The loan proceeds will be used to provide such companies with financing for working capital or the purchase of fixed assets and machinery. The beneficiary companies shall not exceed US$10 million in assets or revenue.

Environmental Review: 

Environmental and Labor Issues:

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 Aliado, S.A. shall retain on its staff at least one employee who has attended 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.