Company name
Indublog S.A.
Project number
12242-01
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
Hold
Disclosed date
04/26/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/30/2019
Approval date
07/12/2019
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 8,000,000
Financing amount
USD $ 26,000,000
Currency
USD
Project scope and objective
The IDB Invest operation consists of two transactions: (i) a loan of up to US$24 million for a term of 11 years, intended to partially fund the construction and start-up of Induglob S.A.’s new household appliance production plant (the "Company" or "Induglob") located in the south of Ecuador, which will be guaranteed by all the assets of the project to be financed; and (ii) an uncommitted facility for up to US$10 million over a 12-month period, to be guaranteed by Induglob's portfolio with eligible clients, which constitutes a new source of funding for the Company's working capital needs (the Project"). The Project is aligned with the Government of Ecuador's plan to reactivate the local economy by encouraging investments that allow for a change in the country’s production matrix.
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
INDUGLOB - PLAN DE ACCIÓN MEDIOAMBIENTAL 041119 CLEAN IN (003).PDF
192.7 Kb
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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.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
83.0 Kb