Company name
LAAD Americas NV
Project number
12098-02
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category 
FI-2
Country
Regional
Sector
Financial Institutions
Status
In implementation
Disclosed date
08/30/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/09/2020
Approval date
07/24/2020
Signed date
07/24/2020
Sponsoring entity
N/A
Team leader
Gutierrez Gutierrez, Martha Maria
Investment type
Syndicated amount
N/A
Financing amount
USD $ 30,000,000
Currency
USD
Project scope and objective
The proposed Financing consists of a senior unsecured loan of up to US$30 million to LAAD to support the liquidity needs of small and medium enterprises (“SMEs”) in the agribusiness sector in Latin America and the Caribbean (“LAC”) region, that have been impacted by COVID-19. The financing will consist of two tranches, as follows: (i) a committed tranche I of up to US$20 million (“Tranche I”), and (ii) an uncommitted tranche II of up US$10 million (‘’Tranche II’), both tranches to be funded by IDB Invest (the “Loan”). The tenor of the Financing is up to 5 years with 12-month grace period.
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Contact information
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Client Contact
CONTACT NAME
Luis Mendoza
POSITION
Finance and Treasury Officer
PHONE NUMBER
+1 (305) 443-9331
lmendoza@laadsa.com
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.
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
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