Company name
Emprendimientos Hoteleros S.A.E.C.A.
Project number
PR1037A-02
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
Paraguay
Sector
Tourism
Status
Completed
Disclosed date
11/05/2010
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/14/2010
Approval date
12/13/2010
Signed date
12/29/2010
Sponsoring entity
N/A
Investment Operations Department Contact
INO Portfolio Management (PTM)
Investment type
Syndicated amount
N/A
Financing amount
USD $ 1,500,000
Currency
USD
Project scope and objective
The objective of this IIC operation is to provide financing to EMHOSA for expanding 17 new standard-size, fully furnished rooms in the Sheraton Asunción Hotel, building and furnishing new conference rooms on the third floor terrace, and partially financing the company’s working capital needs for operating the hotel.
EMHOSA owns the building where the Sheraton Asunción Hotel—a five-star hotel—operates. The hotel has 100 rooms and is located in the exclusive Villa Morra district of the city of Asunción.
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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 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(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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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