Company name
COMERCIAL KYWI S.A.
Project number
EC3854A-01
N/A
E&S category
N/A
Country
Ecuador
Sector
Manufacturing
Status
In implementation
Disclosed date
10/17/2008
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/09/2008
Approval date
11/25/2008
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
INO Portfolio Management (PTM)
Investment type
Syndicated amount
N/A
Financing amount
USD $ 6,000,000
Currency
USD
Project scope and objective
The project consists of a corporate loan to be used for funding permanent working capital requirements, principally inventory and accounts receivable. The loan will support growth and development plans for Comercial Kywi stores in Ecuador’s main cities. Kywi sells competitively-priced hardware products and construction and remodeling materials to all economic sectors in Ecuador. Kywi’s stores have a long, successful track record in Ecuador’s hardware and construction industries. They have grown significantly over the past few years with the opening of new, strategically located stores as well as large stores that offer a varied range of products. Comercial Kywi is a Corporación La Favorita group company; Corporación La Favorita is a leader in the supermarket and retail consumer product sector.
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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.
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
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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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