Banco Industrial e Comercial S.A.
The project consists of an A Loan for US$13 million and a B Loan for US$73 million to Banco Industrial e Comercial S.A. The proceeds will be used to provide financing to eligible small and medium-size enterprises, mainly in the northeast, north and central west regions of Brazil, in the form of short-term loans for working capital or revolving credit facilities. Eligible enterprises shall not exceed US$20 million in assets or yearly revenue.
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. Banco Industrial e Comercial S.A. has attended the IIC financial intermediary environmental training workshop and agrees to retain on its staff at least one employee who attended said workshop. 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.