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
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
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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Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
rintriago@elrosado.com
PHONE NUMBER
+593 (4) 3702400
POST OFFICE ADDRESS
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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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