Company name
Compañía Ecuatoriana del Caucho S.A.
Project number
EC3842A-01
N/A
E&S category
N/A
Country
Ecuador
Sector
Manufacturing
Status
In implementation
Disclosed date
08/03/2007
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/07/2007
Approval date
09/18/2007
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 6,000,000
Currency
N/A
Project scope and objective
The project consists of a corporate loan to be used for (i) financing investments in fixed assets to maintain installed capacity, improve product quality, and increase operating efficiency; (ii) investing in several subprojects that will comply with environmental management programs and standards such as ISO 14001; and (iii) financing permanent working capital.
Compañía Ecuatoriana de Caucho (Erco) produces and sells Continental and General Tire brand tires for automobiles, light trucks, and trucks. The company has more than thirty years of experience. Erco is the leader in the domestic market in Ecuador and exports a significant percentage of its production to Andean region countries.
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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.
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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
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