Cooperatieve Spaar en Kredietbank Godo G.A.

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Project Number: 
SU3300A-01
Expected Consideration Date by the Board: 
11/04/2008
Date Posted: 
09/30/2008
Company: 
Cooperatieve Spaar en Kredietbank Godo G.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Suriname
Country: 
Scope Objective: 

Cooperatieve Spaar en Kredietbank Godo G.A. ("Godo") is the largest savings and credit union in Suriname; it specializes in lending for housing. The purpose of this IIC project is to support Godo’s lending activities and fund the growth of its credit portfolio. The US$1.5 million IIC loan would enable the institution to diversify its sources of funding by obtaining its first long-term loan from a multilateral institution.

Environmental Review: 

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 subproject will undergo an environmental review and will be required to comply with national environmental and labor laws, regulations and standards as well as IIC environmental guidelines. To enable the borrower to better understand the IIC’s requirements, Godo shall be required to attend the IIC’s financial intermediary environmental training workshop.