BAC Regional

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Project Number: 
RC3145A-01
Expected Consideration Date by the Board: 
10/27/2004
Date Posted: 
09/27/2004
Company: 
BAC International Bank, Inc. and Subsidiaries ("BAC Regional" or "BAC Holding")
Financing Requested: 
Sector: 
Financial Services
Location: 
Panama City, Panama
Scope Objective: 
Senior loan, in the form of a credit line, for providing funding with a range of terms, including medium- and long-term, for corporate loans, finance and operating leases, and trade and working capital finance operations, preferably for small and medium-size companies in Central America and Panama. The loan is regional in nature, and the funds will be used by Grupo BAC-Credomatic banks located in Panama, Nicaragua, Honduras, El Salvador, and Guatemala.
Environmental Review: 
Environmental Classification and Issues:
This is a Category III project according to the IIC’s environmental and labor review procedures because specific impacts might result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Each subproject will be required to comply with national environmental and labor laws, regulations and standards as well as IIC policies. To enable the Borrower to better understand the IIC’s requirements, an employee from BAC International Bank, Inc. and Subsidiaries shall be required to attend IIC’s financial intermediary environmental training seminar.