Company name
EDILAR S.A. DE C.V.
Project number
12037-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Mexico
Sector
Social Infrastructure
Status
Completed
Disclosed date
01/11/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/22/2018
Approval date
04/08/2019
Signed date
09/26/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 28,315,200
Currency
MXN
Project scope and objective
IDB Invest seeks to support EDILAR, S.A. of C.V. ("EDILAR") with a financing of up to MXN $540 million in two phases (i) a revolving warehousing line of up to MXN $360 million and (ii) one or more partial credit guarantees for an amount of up to MXN $180 million to guarantee the securitization of Edilar portfolio in the local capital markets. The use of proceeds of the securitization will be used to repay the warehousing line. It is expected that there will be two revolving cycles: after the first cycle, once principal is repaid, the line will be made available again for disbursement.
EDILAR's clients are teachers of public education (they are part of the National System of Public Education SNE. EDILAR's main activity is the sale of educational materials, educational technologies, and continuing education services through term financing, generating accounts receivable that EDILAR charges through payroll deduction that teachers have with the government entities in which they work. EDILAR also gives loans to finance teachers' educational purposes, which is also repaid with a payroll discount.
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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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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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