Spira S.A. de C.V.
The proposed loan is for PM$110 million (in Mexican pesos, equivalent to approximately US$10 million). The proceeds will be used to provide new clients with financing or increase the amounts available to current clients who have a Spira credit card. Spira focuses on economic sectors that have historically not been served by the main credit card suppliers in Mexico.
Environmental Classification and 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, Spira shall be required to attend the IIC’s financial intermediary environmental training seminar. Spira must comply with national environmental and labor laws, regulations, and standards as well as IIC policies.