Company name
Arteche Lantegi Elkartea, S.A.
Project number
14101-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Regional
Sector
Energy
Status
In implementation
Disclosed date
08/09/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/22/2022
Approval date
11/28/2022
Signed date
12/22/2022
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
MXN
Project scope and objective
The Project consists of an unguaranteed and uncommitted revolving discount line granted to Grupo Arteche (Arteche Lantegi Elkartea S.A.) to promote financial support and ease of payment for the suppliers that make up its supply chain in Mexico, Brazil and Argentina. IDB Invest will purchase the irrevocable and unconditional payment obligations/accounts payable with a future date denominated in USD$, MXN and/or other currencies for the execution of payments duly approved by IDB Invest.
In addition, IDB Invest will support Grupo Arteche in sustainability practices in three main areas: (1) training of employees on issues of gender equality and diversity; (2) reduction in the use of wood/cardboard in packaging processes and (3) the overall life cycle of the project.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
ARTECHE ENERGY & TRANSMISSION SUPPLY CHAIN FINANCE
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