Menorca Inversiones S.A.C.
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Quinones, Jose Gustavo
USD $ 7,000,000
USD $ 20,000,000
Project scope and objective
The financing consists of a long-term loan for a total amount of up to US $ 27 million to finance part of the investment plan of Menorca Inversiones S.A.C. (“Menorca”, the “Company” or the “Client”) of the year 2021. This plan includes the purchase of land in Lima and in other provinces of Peru, which will be used for the development of urban development projects, aimed at low-income families in Peru. The urbanizations will have access roads, sidewalks, water and sewerage networks, an underground electricity distribution system, public lighting, green areas, recreation areas, among other services. This housing solution will allow families to acquire a lot in a formal way and with good standards of services and infrastructure. It is estimated that around 2,300 families will benefit.
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