Company name

Casa Comercial Mantica, S.A. and Inmuebles Diano Marina, S.A.

Project number

12725-01

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

Nicaragua

Sector

Manufacturing

Status

Hold

Disclosed date

09/09/2019

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

Projected board date
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09/18/2020

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Fonseca, Juan Reyes

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 20,000,000

Currency

USD

Project scope and objective

The project’s scope consists of:  (i) financing for expansion of the Mantica Group’s supermarket chain and working capital requirements for its projected growth; (ii) financial support to improve its environmental performance by financing solar panels; and (iii) financial and nonfinancial support to improve corporate governance practices and the handling of food and plastic wastes (the “Project” as a whole). With this, IDB Invest and the Mantica Group expect to achieve the following objectives: (i) economic growth and job creation; (ii) net reduction in the carbon footprint of the new branches; and (iii) increased sustainability of the Mantica Group’s business through improved corporate governance practices and better waste management.


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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

105.3 Kb

Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

ENVIRONMENTAL AND SOCIAL ACTION PLAN - CASA MANTICA.PDF

169.1 Kb

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

fmantica@aol.com

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