Company name
Casa Comercial Mantica, S.A. and Inmuebles Diano Marina, S.A.
Project number
12725-01
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
Nicaragua
Sector
Manufacturing
Status
Hold
Disclosed date
09/09/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/18/2020
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
USD
Project scope and objective
The project’s scope consists of: (i) financing for expansion of the Mantica Group’s supermarket chain and working capital requirements for its projected growth; (ii) financial support to improve its environmental performance by financing solar panels; and (iii) financial and nonfinancial support to improve corporate governance practices and the handling of food and plastic wastes (the “Project” as a whole). With this, IDB Invest and the Mantica Group expect to achieve the following objectives: (i) economic growth and job creation; (ii) net reduction in the carbon footprint of the new branches; and (iii) increased sustainability of the Mantica Group’s business through improved corporate governance practices and better waste management.
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
ENVIRONMENTAL AND SOCIAL ACTION PLAN - CASA MANTICA.PDF
169.1 Kb
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Contact information
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Client Contact
fmantica@aol.com
PHONE NUMBER
N/A
POST OFFICE ADDRESS
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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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
105.3 Kb