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
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
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
Portfolio Management Division
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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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
rafael.arcos@itulpark.com
PHONE NUMBER
+593 3801227/ + 593 3801228
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.
ITULPARK - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - OCT
276.5 Kb
ITULPARK - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) - OCT
194.6 Kb