Cofinancing Program with the Central American Bank for Economic Integration (CABEI)
Expected Consideration Date by the Board:
Establish a direct project cofinancing program targeting the private sector, in order to provide long-term financing to small and medium-size companies in the nations of Central America. The main goal of this IIC/CABEI project is to help make corporate management more competitive in order to increase the generation of net revenue and foster foreign currency savings in the countries of Central America.
This is a Category III project according to IIC’s environmental and labor review procedures. All of the subprojects considered for financing under the IIC/CABEI program must comply with the environmental and labor laws, regulations, and standards established in their respective jurisdictions, as well as with applicable IIC policies. As part of the evaluation process, beneficiary companies will be subject to an environmental and labor review carried out by CABEI in coordination with the IIC. CABEI has well defined environmental guidelines and standards, as well as partnerships with other agencies for programs to help improve the quality of life in the countries where it operates. It also participates in meetings of the Working Group on Environment of the Multilateral Financial Institutions, which is working on standardizing environmental principles and processes. To achieve a better understanding of the IIC's environmental and labor guidelines, CABEI has agreed to send appropriate representatives to the IIC's environmental training workshop for financial intermediaries.