Company name
Comercial City Fresko, S. de R.L. de C.V.
Project number
13180-01
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
Mexico
Sector
Manufacturing
Status
Hold
Disclosed date
07/24/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/13/2021
Approval date
N/A
Signed date
N/A
Sponsoring entity
La Comer, S.A.B. de C.V. (“La Comer”)
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 47,449,700
Currency
MXN
Project scope and objective
La Comer S.A.B. de C.V. ("La Comer" or the "Company"), through its subsidiary Comercial City Fresko, S. de R.L. de C.V. ("CCF"), has requested IDB Invest's financial assistance to provide an uncommitted revolving credit facility (the "Facility") to finance La Comer's suppliers through the acquisition of collection rights (the "Project" or the "Operation"). The Operation involves deferred payment for accounts receivable, due to the exceptional measures adopted by the Company to mitigate the impact of COVID-19 on its suppliers.
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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 OfficesFor inquiries, comments and information requests about the project
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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.
LA COMER - ESRS AND ESAP-2020 07 17
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