Company name

Menorca Inversiones S.A.C.

Project number

12531-01

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
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B

Country

Peru

Sector

Manufacturing

Status

Proposed

Disclosed date

06/22/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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11/26/2021

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Quinones, Jose Gustavo

Investment type

Financing requested

N/A

Syndicated amount

USD $ 7,000,000

Financing amount

USD $ 20,000,000

Currency

PEN

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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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

MENORCA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

307.2 Kb

MENORCA - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

163.8 Kb

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Santiago Gaviria

POSITION

New Projects Manager

PHONE NUMBER

965775313

EMAIL

sgaviria@menorca.com.pe

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices