Company name
International Textile Group, Inc. (ITG)
Project number
NI3761A-01
N/A
E&S category
N/A
Country
Nicaragua
Sector
Manufacturing
Status
Completed
Disclosed date
06/01/2007
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/03/2007
Approval date
07/10/2007
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 50,000,000
Financing amount
USD $ 55,000,000
Currency
USD
Project scope and objective
The Project involves the design, construction and operation of a 28-million yard capacity state of the art denim manufacturing plant. This will be the first denim manufacturing plant in Central America and the largest industrial facility in Nicaragua.
The plant project will generate more than 750 direct new jobs and a large number of indirect ones in Nicaragua. As part of the financial plan, the IIC will provide long-term financing, together with other financial institutions. Given the characteristics of the project, the IIC’s involvement may act as a catalyst in bringing similar industries to the region, which could be replicated in the future with new projects.
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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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