Company name
Azvi S.A.U., Construcciones Urales S.A. de C.V.
Project number
14032-01
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
B
Country
Regional
Sector
Transport
Status
In implementation
Disclosed date
07/06/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/01/2023
Approval date
09/01/2023
Signed date
03/06/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
USD
Project scope and objective
The Project consists of a revolving, uncommitted supply chain payment services financing of up to US$20 million or their equivalent in Mexican pesos (the “Financing”) to provide supply chain payment services to Azvi S.A.U (or “ Azvi” ) in Chile and México (the “Borrowers”). The Financing will have an initial term of 12 months, which may be renewed annually at IDB Invest's discretion for up to six additional years. The Financing will provide Azvi suppliers an innovative alternative solution to finance their working capital needs by using the E-Factor Network platform.
This solution will allow the Borrowers’ supplier base (which includes small and medium enterprises (SMEs) to secure financing under much more favorable conditions than would be available directly from the local market. SME supply chain financing through companies like Azvi is one of the ways that IDB Invest will serve this segment. The above is in line with the innovative focus proposed by IDB Invest for SMEs.
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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(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
AZVI SUPPLY CHAIN FINANCE - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
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AZVI SUPPLY CHAIN FINANCE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
901.1 Kb