Project: “Access to a Longer-Term Financing for MSMEs”
The Banco de Inversión y Comercio Exterior (BICE) will fund, by means of elegible Financial Institutions, Micro, Small and Medium Enterprises (MSMEs), through a Project financed with resources from the World Bank called “Access to a Longer-Term Financing for MSMEs ”(the “Project”). The project’s development goal is to improve access to longer-term Financing for MSMEs and to support the authorities to foster the proper environment to encourage access to credits in the country.
The BICE has developed an Environmental and Social Management Framework (ESMF) and the Indigenous Peoples Planning Framework (IPPF) (“the FRAMEWORKS”) which set the guidelines, procedures and specifics for an environmental and social management that guarantees the development of the Project in a context of environmental and social protection and of respect towards the indigenous peoples planning, which consists of national, provincial and municipal legislation, and the World Bank’s Safeguard Policies. These documents were made available for the public to consult and the contributions have greatly enrichened their contents.
These documents will make it easier to assess, from the environmental and social point of view, the investment subprojects presented by the MSMEs to the Financial Institutions to seek financing through the resources of the Project and to achieve a proper environmental and social management and respect towards the indigenous rights during the development cycle (since the presentation of proposals, during its evaluation, selection, execution and through its completion). Any activity financed according to this Project will be subject to the procedures described in “the FRAMEWORKS”. For an efficient implementation, they will be integrated with the processes of credit lines application and approval. The Financial Institutions will use the mechanisms established in “the FRAMEWORKS” to guarantee that the MSMEs activities do not have any negative environmental and/or social fault and/or do not affect the indigenous peoples Plan in the long term. When following the methodology of “the FRAMEWORKS”, the Financial Institutions and the BICE will guarantee that the MSMEs avoid, reduce and/or mitigate the negative impacts to an acceptable level.
“The FRAMEWORKS” must be construed as dynamic and updating tools, adaptable to the development of the Project so as to allow the consideration of new needs and requirements which may eventually arise from its practical implementation (especially related to the execution of investment subprojects financed through it). In that sense, “the FRAMEWORKS” may be periodically updated with the incorporation of elements to achieve a continuous improvement in the environmental and social management in the rights included in the indigenous peoples plans.
Here follow the Environmental and Social Management Framework (ESMF) and the Indigenous Peoples Planning Framework (IPPF) you may access: