Company name
Controladora Mabe, S.A. de C.V.
Project number
12119-01
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
In implementation
Disclosed date
01/11/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
04/01/2019
Approval date
04/16/2019
Signed date
05/31/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The Project with Mabe is an Uncommitted Revolving Payment Services Facility for US$50 million, or its equivalent in Mex$ (the “Facility”), to provide payment services for suppliers of Mabe or its eligible subsidiaries. The Facility will have an initial tenor of 12 months, renewable on a yearly basis at IDB Invest’s discretion for up to 6 additional years.
The Facility will provide Mabe’s suppliers with an innovative alternative solution to finance its working capital needs, using E-Factor Network platform.
This solution will enable the supplier base (including small and medium size companies, “SME’s”) to obtain more favorable financing conditions than those they can obtain in the local market on their own. SME Supply Chain Financing through corporates like Mabe is one of the ways IDB Invest will focus in this segment. These kinds of solutions are aligned with IDB Invest’s innovative approach with SMEs.
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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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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