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Company name

Corporacion El Rosado S.A.

Project number

14298-01

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
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B

Country

Ecuador

Sector

Manufacturing

Status

Proposed

Disclosed date

11/16/2022

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

Projected board date
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04/05/2023

Approval date

04/05/2023

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

Corporates Division

Investment type

Syndicated amount

USD $ 5,000,000

Financing amount

USD $ 20,000,000

Currency

USD

Project scope and objective

This Transaction consists in subscribing a senior corporate bond for up to USD 20 million over a term of up to 5 years for Corporación El Rosado S.A. (“El Rosado”). It also entails mobilizing resources to complete the cost of the Project, totaling USD 25 million. The use of funds is made up by sustainable investments for the period 2023-2024 related to the production of clean energy, energy efficiency and reduction of CO2 emissions.

 

El Rosado is a company with over 66 years’ experience being one of the largest groups of companies in Ecuador with presence countrywide through its different business lines including the second largest supermarket chain in Ecuador. As from its inception, the Company has been involved in the development of the private and national sector currently being one of the largest employers in Ecuador.

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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.

EL ROSADO II BONO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

276.5 Kb

EL ROSADO II BONO - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

143.4 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

rintriago@elrosado.com

PHONE NUMBER

+593 (4) 3702400

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .