Company name
Maquinarias y Vehículos S.A.
Project number
12310-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category 
C
Country
Ecuador
Sector
Manufacturing
Status
In implementation
Disclosed date
08/20/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/21/2018
Approval date
10/24/2018
Signed date
01/18/2019
Sponsoring entity
N/A
Team leader
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
USD
Project scope and objective
This operation consists of a secured senior loan of US$20 million to partially finance the truck and bus credit sales plan of Maquinarias y Vehículos S.A. (Mavesa or the “Company”), in which the main beneficiaries are Ecuadoran small and medium-sized enterprises (SMEs). The resources of the IDB Group will make it possible to reduce the Company’s long-term funding gap and increase the number of SMEs with access to productive assets through the direct credit offered by Mavesa, which consists of up to 70% financing of the vehicles, which may amount to as much as US$100,000 on an individual basis.
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Contact information
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Request informationAlternatively, you may also use the following contact information:
Client Contact
CONTACT NAME
N/A
POSITION
N/A
PHONE NUMBER
+593 42272600 ext. 1262
jizurieta@mavesaec.com.ec
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.
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
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