Cofinancing Program with Corporación Andina de Fomento (CAF)

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Project Number: 
RG3207A-01
Expected Consideration Date by the Board: 
03/09/2005
Date Posted: 
01/26/2005
Company: 
CAF
Financing Requested: 
Sector: 
Financial Services
Location: 
Regional
Scope Objective: 
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 beneficiary countries of CAF and regional members of the IIC. The main goal of this IIC/CAF project is to help make corporate management more competitive in order to increase the generation of net revenue and foster foreign currency savings in these countries. In addition, this program aims to benefit from the strengths and know-how of both institutions.
Environmental Review: 
This is a Category III project according to 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. All of the subprojects considered for financing under the IIC/CAF 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.

To achieve a better understanding of the IIC's environmental and labor guidelines, CAF has agreed to send appropriate representatives to the IIC's environmental training workshop for financial intermediaries.