The objective of this IIC operation is to provide BanBIF with up to US$9 million in financing to support small and medium-sized enterprises (SMEs) in Peru though loans for working capital, the modernization and/or expansion of these enterprises, and/or financial leasing operations, pursuant to eligibility criteria to be established by the IIC.
BanBIF is a finance company that provides financial intermediation services as a private commercial bank geared primarily to Peruvian SMEs.
Environmental and Labor Issues
This is a category FI-2 project according to the IIC’s Environmental and Social Sustainability Policy because of the medium risk of the subprojects in the financial intermediary’s current or future portfolio. In order to improve its assessment of the environmental and labor aspects of its operations, BanBIF attended the IIC’s environmental training workshop for financial intermediaries. Eligible Enterprises financed with IIC funds 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. BanBIF submits annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices.