Company name
International Logistics Holding, LLC
Project number
13095-01
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
B
Country
Brazil
Sector
Transport
Status
In implementation
Disclosed date
05/29/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/02/2020
Approval date
07/28/2020
Signed date
09/22/2020
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 11,750,000
Financing amount
USD $ 13,200,000
Currency
USD
Project scope and objective
IDB Invest is considering an investment of up to US$15 million in CargoX (the “Company”). The latter is perhaps the largest trucking marketplace and online freight broker in Brazil. CargoX's platform enables truck owner-operators to make use of excess capacity and avoid empty return trips, thus improving freight visibility, reducing shipping costs, reducing emissions, and boosting income for truck drivers.
As the Company grows, it expects to positively impact thousands of truck drivers and small and medium enterprises (“SMEs”) across Brazil and potentially to Latin America. IDB Invest funds will be used for technology building, marketing & sales initiatives and general working capital needs.
During covid-19 emergency crisis, online platforms such as CargoX have become a key tool for resilience for the transport sector and supply chains in Brazil.
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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(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
30.3 Kb
CARGOX ESRS AND ESAP MAY,2020
317.4 Kb