Banco Bolivariano C.A.
The project consists of a loan of up to US$7 million for a term of up to three years, to Banco Bolivariano C.A. The proceeds will be used to provide financing to small and medium-size Ecuadorian companies for trade activities such as exporting and importing, as well as for working capital related to import-export operations.
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. To enable the borrower to better understand the IIC’s requirements, Banco Bolivariano C.A. shall retain on its staff at least one employee who has attended the IIC financial intermediary environmental training 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.