Banco Regional V
The purpose of the project is to provide financing to small and medium-sized enterprises (SMEs) in the form of loans for working capital or the acquisition of fixed assets. Financing on appropriate terms will make it possible to generate direct and indirect jobs and will improve the financial structure of SMEs. The proposed operation consists of a loan of up to US$8,000,000.
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 subproject must comply with national environmental and labor laws, regulations, and standards as well as IIC environmental guidelines. To enable the Borrower to better understand and enforce the IIC’s environmental and labor requirements, an employee from Banco Regional attended the IIC financial intermediary environmental training workshop in October 2008.