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
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
11/30/2016
Approval date
11/30/2016
Signed date
07/15/2019
Sponsoring entity
Universidad de las Américas “UDLA”
Investment Operations Department Contact
N/A
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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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 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.
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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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