IIC-SIMEST Colending Program
Caribbean region. The IIC and SIMEST shall participate in the program in a complementary manner: (i) the IIC will participate by providing senior and/or partially subordinated loans to the Eligible Companies (ECs), pursuant to its internal policies and procedures; and (ii) SIMEST will participate by acquiring up to 25% of the shares of the Eligible Companies whenever an Italian company (the "Italian investor") is a shareholder of the EC. The principal objective of this project carried out by the IIC and SIMEST is to attract international investment, financing and business know-how to the region, improve its competitiveness and promote export trade from Latin American countries to the European Union and other developed markets.
This is a Category III project according to the IIC's environmental and labor review procedures. Each subproject considered for financing under the IIC-SIMEST program will be required to comply with national environmental and labor laws, regulations, and standards, 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 the IIC. In order to better understand the IIC's environmental and labor review procedures, IIC will invite SIMEST to join to the environmental training workshop for financial intermediaries.