Company name
Cemex, S.A.B. de C.V. (“Cemex”)
Project number
12120-01
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
Mexico
Sector
Manufacturing
Status
In implementation
Disclosed date
11/13/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/15/2017
Approval date
01/09/2018
Signed date
11/05/2018
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 78,027,300
Currency
MXN
Project scope and objective
The operation with Cemex consist of an Uncommitted Revolving Line of Credit for US$50 million, or its equivalent in Mexican Pesos (“Facility”) to purchase accounts payables issued by Cemex or one of its eligible subsidiaries. The Facility will have an initial tenor of 12 months, renewable on a yearly basis at IDB Invest's discretion for up to 6 additional years.
The Facility will provide Cemex’s suppliers with an innovative alternate solution to finance their working capital needs, using E-Factor Network platform to sell to the IDB Invest Cemex’s accounts payables. This solution will enable Cemex’s suppliers (including small and medium size companies, “SME’s”), to obtain financing in much favorable conditions than those they can obtain in the local market on their own. SME’s Supply Chain Financing through corporates like Cemex is one of the ways the IDB Invest will focus in this segment. This kind of solutions are aligned with IDB Invest's innovative approach with SME’s.
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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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