Banco Bilbao Vizcaya Argentaria Paraguay S.A.
The objective of this program is to finance eligible projects via loans to eligible enterprises in Paraguay that meet IIC and BBVA Paraguay loan eligibility 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 have limited access to financing with terms of more than one year.
Environmental Classification and 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 enable BBVA Paraguay to better understand and enforce the IIC’s environmental and labor requirements, the bank agrees to retain on its staff at least one employee who has attended the IIC’s financial intermediary environmental training workshop.