Company name

Conjunto Parnelli, S.A. de C.V., Promotora FM, S.A. de C.V. e Inmobiliaria Karuka, S.A. de C.V. (together, “GIM Habitacional”)

Project number

13454-01

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

Mexico

Sector

Manufacturing

Status

Proposed

Disclosed date

07/20/2021

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

Projected board date
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10/07/2021

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Fernandez Fernandez, Martha

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 46,684,900

Currency

MXN

Project scope and objective

GIM Habitacional is a vertically integrated housing developer with operations in the social housing segment, as well as in the middle-income and residential segments in Mexico.

 

The transaction consists of a secured revolving credit facility of up to MXN 950 million, with a committed tranche of up to MXN 500 million and an uncommitted tranche of up to MXN 450 million, with a tenor of up to seven years and drawdowns on a revolving basis. The financing will be used to finance working capital requirements related to the construction of social and middle-income housing in Mexico. The main objective of the project is to promote access to adequate and affordable housing in Mexico, through a greater supply of social and middle-income housing to be developed by GIM Habitacional.

 

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

GIM- ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

235.5 Kb

GIM - 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

CONTACT NAME

Roberto Carrillo Herrera

POSITION

Planning and Finance Director

PHONE NUMBER

55 91 77 01 09

EMAIL

rcarrillo@gim.com.mx

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