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Company name

Parques Logisticos Effitek S.A.

Project number

14674-01

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

In implementation

Disclosed date

09/22/2023

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

Projected board date
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11/16/2023

Approval date

11/16/2023

Signed date

12/15/2023

Sponsoring entity

Parques Logísticos Effitek S.A.S.

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 31,100,000

Financing amount

USD $ 24,000,000

Currency

USD

Project scope and objective

This transaction consists of a total financing of up to US$48 million, for a term of up to 12 years for Parques Logísticos Effitek S.A.S. (“Parque Logístico Itulpark” or “Itulpark”). The financing will consist of an A tranche of up to US$24 million to be funded with IDB Invest resources, and the difference will be mobilized with third-party resources.

 

Parques Logísticos Effitek S.A.S., is a special purpose company established in Ecuador, incorporated to develop and operate a logistics park of class AAA warehouses, located in the parish of Pifo in the canton of Quito, Ecuador (the “Project”). The land has an area of 15 hectares, with a leasable area of more than 50%, and the difference will be allocated to a maneuvering yard, parking lot, loading and unloading docks, a medical center, among other related services.

 

The Project will be developed in four warehouses and will have modular warehouses of 1,000 m2 –20,000m2,  in addition to offering the possibility of customizing the warehouses according to the demands of tenants (“Built to Suit” format) from different economic sectors.

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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.

ITULPARK - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - OCT

276.5 Kb

ITULPARK - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) - OCT

194.6 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

rafael.arcos@itulpark.com

PHONE NUMBER

+593 3801227/ + 593 3801228

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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