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Company name

eFactor Diez, S.A.P.I de C.V

Project number

12593-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
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FI-2

Country

Mexico

Sector

Financial Institutions

Status

In implementation

Disclosed date

09/18/2019

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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08/19/2019

Approval date

10/18/2019

Signed date

04/30/2020

Sponsoring entity

N/A

Team leader

Baltazar Vazquez, Lucia Adriana

Investment type

Syndicated amount

N/A

Financing amount

USD $ 630,000

Currency

MXN

Project scope and objective

The proposed transaction consist of an uncommitted credit line to E FACTOR DIEZ SAPI de CV (“eFactor”) denominated in US dollars and/or its equivalence in Mexican pesos for up to three million United States dollars. The tenor will be up to 180 days. IDB Invest financing will be used by eFactor to (i) fund discount operations with IDB Invest under our supply chain finance facility; and (ii) increase EFD volume of operations by funding discounted invoices (mainly from Micro and Small companies) online.


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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

47.3 Kb

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Juan Carlos Cuevas

POSITION

Excecutive Director – Global Funding

PHONE NUMBER

+52 81-8248-0800

EMAIL

juanc@efactornetwork.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices