Company name
Casa Pellas S.A.
Project number
NI3838A-02
N/A
E&S category
N/A
Country
Nicaragua
Sector
Manufacturing
Status
In implementation
Disclosed date
06/19/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/23/2013
Approval date
07/09/2013
Signed date
N/A
Sponsoring entity
Not applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 500,000
Financing amount
USD $ 4,500,000
Currency
USD
Project scope and objective
The purpose of this IIC operation is to increase financing to Casa Pellas for permanent working capital. Casa Pellas, a distributor, was established in Nicaragua in 1913.
Casa Pellas has been distributing Toyota vehicles since 1963. It has the infrastructure for selling parts and has auto service shops for servicing the vehicles it sells. Over the years, the company has diversified by adding machinery, industrial equipment, and other well-known vehicle makes such as Hino trucks and Suzuki. Since late 2012, Casa Pellas began efforts to boost growth primarily in the food, consumer goods, and food services distribution segments.
The first IIC operation focused not only on growing the company, but on supplementing the financing of its operations, given the international financial crisis prevailing at the time. The reason for the proposed increase in the current loan is that Casa Pellas will be intensifying its retail goods distribution business in the food, consumer goods, and food services throughout most of the country. These segments are expected to account for most of the growth of the distribution division over the next three years, through more and better coverage in areas both inside and outside greater Managua, the country’s capital.
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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
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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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