Company name

Urapi Sustainable Land Use (“URAPI SLU”)

Project number

12951-01

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

Regional

Sector

Investment Funds

Status

Inactive

Disclosed date

09/02/2020

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

Projected board date
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06/01/2021

Approval date

10/07/2020

Signed date

N/A

Sponsoring entity

N/A

Team leader

Carvajo Lucena, Pilar

Investment type

Syndicated amount

USD $ 5,000,000

Financing amount

N/A

Currency

USD

Project scope and objective

The transaction consists of a guarantee of up to US$5 million to support the second closure of Urapi SLU (the “Fund”) until it reaches its target capitalization of US$50 million. The guarantee will be issued for a term of up to 15 years, matching the Fund’s time horizon. The Fund has a regional mandate, with a focus on agroforestry projects.

The Fund was established to invest in projects to restore degraded lands. The Fund’s investments are formalized through special-purpose vehicles created for each project in the different countries where it invests. The special purpose vehicles, which are 100% funded by Urapi SLU, offer (i) equity investments in infrastructure for processing raw materials; (ii) investments in carbon credit sale and issue infrastructure; and (iii) financing for small producers to invest in their farms, improve land-use, and increase productivity. IDB Invest’s guarantee will partially cover the risk of nonpayment of this financing for the small producers.

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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

46.8 Kb

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Etienne Desmarais

POSITION

Managing Partner

PHONE NUMBER

1-819-570-2630

EMAIL

e.desmarais@ecotierra.co

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