Banco Aliado S.A.
The Project consists of a loan of up to US$12 million to Banco Aliado S.A. The proceeds of the loan will be used to finance fixed assets, machinery, or working capital of small and medium-sized enterprises in different productive sectors.
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. Banco Aliado attended the IIC’s environmental training workshop in 2008 and has an environmental and social management policy and procedure in place that it uses to review its operations. Banco Aliado S.A. will retain at least one employee on its payroll who has attended the IIC’s environmental training workshop for financial intermediaries. Each subproject will be subject to an environmental review and must comply with domestic environmental and labor laws, regulations, and standards, as well as IIC environmental guidelines.