The purpose of this revolving credit line is to provide financing for eligible projects through subloans to eligible enterprises, according to IIC criteria.
Bancóldex is Colombia's business development bank. It designs and provides new financial and nonfinancial instruments to boost the competitiveness, productivity, growth, and development of Colombian micro, small, medium-sized, and large companies, both in the export or domestic markets. It is a mixed-economy entity in which the Colombian government has a majority shareholding through the Finance Ministry and the Ministry of Trade, Industry, and Tourism.
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. Bancóldex has participated in the IIC financial intermediary environmental training workshop in 2008 and is now a leader on environmental issues amongst financial institutions in Colombia. Bancóldex has an environmental policy, as well as environmental and social review procedures in place. Bancóldex will continue to provide the IIC with annual environmental and social monitoring reports to ensure compliance with local environmental requirements, as well as the IIC’s environmental requirements.