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
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B

Country

Brazil

Sector

Telecommunications, Media and Technology

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
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07/02/2020

Approval date

07/28/2020

Signed date

09/22/2020

Sponsoring entity

N/A

Team leader

Arauz, Gonzalo C.

Investment type

Financing requested

N/A

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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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

30.3 Kb

CARGOX ESRS AND ESAP MAY,2020

317.4 Kb

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices