Banco Regional Paraguay
The objective of this program is to finance eligible projects via loans to eligible enterprises in Paraguay that meet the IIC’s and Banco Regional’s credit criteria and environmental and labor requirements. These small and medium-size enterprises (SMEs) in Paraguay require medium- or long-term financing in order to carry out their operations. Financing on appropriate terms will make it possible to generate direct and indirect employment and improve the financial structure of SMEs, which currently have limited access to financing with terms of more than one year. The proposed transaction consists of a loan of up to US$6,000,000.
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. Each subloan must comply with national environmental and labor laws, regulations, and standards as well as IIC environmental guidelines. To better understand and enforce the IIC’s environmental and labor requirements, Banco Regional sent an employee to the IIC’s October 2008 financial intermediary environmental training workshop.