Company name
Constructora Santa Fe Ltda.
Project number
CR4016A-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
Regional
Sector
Transport
Status
Completed
Disclosed date
02/15/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/15/2017
Approval date
04/27/2017
Signed date
06/13/2017
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
Santa Fe is a Costa Rican company specialized in the road construction and improvement, civil engineering and energy infrastructure, large scale earthworks, exploitation of materials for construction, and as contractor of multinationals companies in mining activities. Since 1974, it has developed projects in their country of origin as well as in Central and South America. Currently its main activities are concentrated in Nicaragua and Bolivia.
The 18 months term loan is for a maximum amount of up to US$5 million. It aims to finance working capital needs for a specific road project, on which the Company requires resources to participate in tenders, commencement of operations, and other pre-operating expenses (that have been invested and are not reimbursed until project completion).
The role of the BID Invest is important because this loan could be renewed at BID Invest ’s discretion and could be used in other road projects, which will need BID Invest's Environmental and Social clearance in order to be funded. This renewable loan will be used initially to finance the Rama-Kukra Hill project located in the Atlantic region of Nicaragua, thus will give financial flexibility to Santa Fe in continuing its operation in developing countries, where medium term financing is limited. At the same time, BID Invest will be supporting Santa Fe improving its corporate governance structure and practices, through technical assistance resources.
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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 OfficesFor 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 SUMMARY
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