Corporacion El Rosado
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Jimenez Grandes, Gabriel
USD $ 25,000,000
USD $ 25,000,000
Project scope and objective
The proposed transaction consists of granting El Rosado a senior secured long-term financing to: (i) finance the Company's investment plan for up to US$35 million, which primarily consists of sustainable initiatives related to clean energy production, energy efficiency and emissions reduction, as well as other investments in logistics improvement, maintenance and geographic expansion; and (ii) refinance debt for up to US$15 million. The financing will have a US$25 million tranche A to be funded with IDB Invest resources, and a US$25 million tranche B to be mobilized through international financiers.
El Rosado is a company with more than 66 years of experience and is one of the most important business groups in Ecuador, with nationwide participation through different business lines, including the second largest supermarket chain in Ecuador. Since its foundation, the company has participated in the development of the private and national sector, and is currently one of the largest employers of the country.
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+593 (4) 3702400
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