Company name
Lamitech
Project number
CO3153A-01
N/A
E&S category
N/A
Country
Colombia
Sector
Social Infrastructure
Status
Completed
Disclosed date
10/29/2004
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/01/2004
Approval date
12/01/2004
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
INO Portfolio Management (PTM)
Investment type
Syndicated amount
N/A
Financing amount
N/A
Currency
USD
Project scope and objective
Lamitech is a leading producer of high-pressure decorative laminates in Colombia and in South America’s Andean region. Lamitech began operations in mid-1980. It has been known for innovation and continuous improvements to its products, its export orientation, its broad range of products, and good customer service. Lamitech has successfully implemented expedited delivery service to its customers in Colombia and reliable, timely delivery to its customers abroad.
The IIC loan will help Lamitech significantly increase its production capacity and allow it to consolidate its export market operations. Specifically, the project includes an expansion of civil works at the plant, the purchase of machinery, equipment, and infrastructure to increase the Company’s installed capacity, financing of start-up costs, testing, and ongoing working capital requirements.
This loan under consideration is the second IIC loan to Lamitech. The first IIC transaction with Lamitech was executed in 1993; Lamitech paid to the IIC on time and fulfilled all the requirements of the first loan agreement.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
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.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
50.4 Kb