Company name
Equirent Vehículos y Maquinarias S.A.S. BIC
Project number
14001-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Colombia
Sector
Manufacturing
Status
Approved
Disclosed date
06/02/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/16/2023
Approval date
11/16/2023
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 10,000,000
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
This transaction (the “Project”) consists in providing full financing in the amount of up to USD 20 million for a term of up to 7 years to Equirent Vehículos y Maquinarias S.A.S. BIC (“Equirent”). IDB Invest’s tranche will be of up to USD 10 million, being USD 5 million committed and USD 5 million uncommitted. In addition, it will include a USD 10 million tranche to be mobilized with resources from other financiers. The use of funds in both tranches will be aimed at financing pluggable hybrid electric vehicles and electric vehicles for the subsequent lease thereof to companies and persons in Colombia.
Equirent is a company regulated and supervised by the Colombian Business Associations Regulatory Agency (Superintendencia de Sociedades) with more than 29 years in the auto market specialized in the operating lease of vehicles and machinery, and consolidating the knowledge and experience of all the companies which make up the Seissa organization in the integral renting business. Through the Project, IDB Invest will be able to contribute to the development of e-mobility in Colombia.
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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.
EQUIRENT - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
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