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Company name

Aceria del Ecuador C.A.

Project number

14466-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Ecuador

Sector

Manufacturing

Status

In implementation

Disclosed date

08/11/2023

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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11/07/2023

Approval date

11/07/2023

Signed date

12/19/2023

Sponsoring entity

N/A

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 30,000,000

Currency

USD

Project scope and objective

This transaction consists of a total financing of up to US$30 million to Acería del Ecuador C.A (“Adelca”).

 

Adelca is the leading company in the production and marketing of steel products and derivatives in Ecuador, with an experience spanning 60 years. It focuses on meeting the needs of the construction sector through the wholesale channel and directly to its customers.

 

The proposed financing consists of: (i) a senior committed facility for up to US$15 million to finance imports of inputs for the development of a new steel production line; (ii) a senior uncommitted facility for up to US$10 million for the same use of funds; and (iii) a senior uncommitted loan for up to US$5 million to finance digital transformation projects to optimize its steel manufacturing process.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ADELCA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

266.2 Kb

ADELCA - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

174.1 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .