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Company name

Universidad de las Americas

Project number

11949-07

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

Ecuador

Sector

Social Infrastructure

Status

In implementation

Disclosed date

10/28/2016

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

Projected board date
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11/30/2016

Approval date

11/30/2016

Signed date

07/15/2019

Sponsoring entity

Universidad de las Américas “UDLA”

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 18,000,000

Currency

USD

Project scope and objective

UDLA is one of the leading private universities in Ecuador. It was founded in 1994 and to date it has approximately 15,000 students enrolled in its programs. UDLA offers bachelor’s and graduate degrees in fields including architecture, business, law, and engineering.

The funds will be used to build, equip, and operate the new UDLA campus outside Quito. The total estimated cost of the project is US$30.2 million. The IIC will play a very important role by providing the kind of long-term resources not currently available in Ecuador.

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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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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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