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Company name

Corporacion El Rosado S.A.

Project number

15063-01

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

Ecuador

Sector

Manufacturing

Status

Proposed

Disclosed date

10/07/2024

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

Projected board date
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12/13/2024

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

Corporates Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 50,000,000

Currency

USD

Project scope and objective

The present project consists of a comprehensive working capital package of up to a total of US$50 million for Corporación El Rosado S.A. (“The Company”), comprised of: (i) a committed facility of up to US$15 million for financing inventory imports; (ii) an uncommitted facility of up to US$15 million for the same use of funds; and (iii) an uncommitted facility of up to US$20 million to improve access to financing for its suppliers, many of whom are small and medium-sized enterprises (SMEs). This comprehensive financial solution will enable "The Company" to benefit a larger target population from the middle and lower sectors with quality products at competitive prices, while also supporting the value chain of the sector.

El Rosado is a company with more than 68 years of experience and is one of the most important business groups in Ecuador, with a national presence through its various lines of business, including the second-largest supermarket chain in the country. Since its founding, the Company has been part of the development of the national business fabric and is currently one of the largest employers in the country, with approximately 9,300 employees.

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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.

EL ROSADO III - RESUMEN DE LA REVISIÓN AMBIENTAL Y SOCIAL (RRAS O ESRS)

460.8 Kb

EL ROSADO III - PLAN DE ACCIÓN AMBIENTAL Y SOCIAL (RRAS O ESRS)

112.6 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

info@elrosado.com

PHONE NUMBER

+593 (4) 3702400

POST OFFICE ADDRESS

9 de octubre 719 y Boyacá, Guayaquil, Ecuador

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .