Company name
Ecoblock International, S.A. de C.V. SOFOM ENR (“Échale”)
Project number
ME4091A-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
Mexico
Sector
Social Infrastructure
Status
Completed
Disclosed date
07/09/2015
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/08/2015
Approval date
09/16/2015
Signed date
12/14/2015
Sponsoring entity
not applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 1,086,200
Financing amount
USD $ 836,695
Currency
MXN
Project scope and objective
The objective of the loan is to support the expansion of Ecoblock International’s new home construction and home improvement projects aimed at low-income families in Mexico. The cost of the project is estimated to be US$1 million (or its equivalent in Mexican pesos).
Ecoblock International is a Mexican company that provides housing solutions for low-income families in the central and southern parts of Mexico under a program called “Échale a tu casa,” known in the market as “Échale.” Échale operates with an innovative business model that offers technical training to communities and involves families in the design and construction of the homes. The company also provides families with financial education and helps them gain access to financing for new homes and to subsidies from government agencies such as the Comisión Nacional de Vivienda (national housing commission, CONAVI). As part of its construction process, the company uses sustainable materials—such as adobe produced with local earth that is both highly thermally efficient and more affordable. Since its founding in 1997, Échale has built more than 30,000 new housing units and improved more than 150,000 homes. In doing so, it has received recognition from a number of organizations for its innovative and socially-responsible model. For example, in 2013, Échale won the “Best for the World” award from B-Corporation, and in 2014 Forbes named it one of its “10 Companies Considered ‘Best for the World.’” In 2015, it won the “Ventures Mexico” competition recognizing the country’s best social entrepreneurs.
The IIC’s loan will support Échale as it expands its production units from eight to twelve. With that expansion, it expects to reach more than 8,000 additional low-income families over the next five years thanks to partial financing of the necessary fixed asset and working capital investment.
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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
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