Banco Solidario S.A.
The project consists of a US$5 million loan to Banco Solidario S.A. The proceeds will be used to provide financing to microenterprises in Bolivia in the form of short- and medium-term loans for working capital or business expansion.
Environmental and Labor Issues: 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 be subject to an environmental review and must 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, Banco Solidario S.A. shall be required to attend the IIC financial intermediary environmental training workshop.