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Company name

Altifibers S.A.

Project number

BO3327A-01

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E&S category
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N/A

Country

Bolivia

Sector

Manufacturing

Status

Inactive

Disclosed date

10/26/2005

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

Projected board date
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11/29/2005

Approval date

11/29/2005

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

USD $ 800,000

Financing amount

USD $ 700,000

Currency

USD

Project scope and objective

Altifibers S.A. is located in El Alto, La Paz, Bolivia; the company, created fourteen years ago by the sponsors, purchases, processes, and exports textiles made from natural fibers (sheep, llama, and alpaca). Altifibers S.A. buys and processes nearly 75% of all of the natural fibers produced in Bolivia, exporting them in the form of semiprocessed yarn ("tops" ). The company operates on the international natural fiber market, taking advantage of its experience with and knowledge of the export markets. It exports chiefly to the United Kingdom, Europe, and the United States.


The project consists of the construction of a spinning and dyeing plant for sheep, alpaca, and llama yarns. Spinning and dying are currently done abroad because Bolivia lacks the infrastructure to ensure product quality at the necessary processing volumes. The yarn market is an export market. The project will increase Altifibers' sales volume and margins by enabling it to offer higher value-added products. The project includes investment in machinery, equipment, and buildings to vertically integrate the company and enable it to operate a complete natural fiber spinning and dyeing line using domestic raw material (tops). The company also requires financing for working capital and to restructure short-term debt in order to optimize its capital structure.


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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.

ENVIRONMENTAL AND SOCIAL REVIEW

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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

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POST OFFICE ADDRESS

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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