Company name

FINAE, S.A.P.I. de C.V. SOFOM ENR

Project number

12179-02

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
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C

Country

Mexico

Sector

Agribusiness

Status

Inactive

Disclosed date

12/19/2017

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

Projected board date
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01/18/2018

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Benchimol Dominguez, Avril

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 1,867,400

Currency

MXN

Project scope and objective

IDB Invest seeks to support FINAE with a financing of up to MXN350 million. The financing is expected to be collateralized by a pool of student loans originated and serviced by FINAE.
For FINAE, the project is expected to improve its debt maturity profile and costs of financing and will help scale up the results achieved by FINAE with previous IDB Group financing to continue promoting and facilitating access to finance for students coming from low income families who lack the financial resources to pursue higher education studies in Mexico. Students from 21 States in Mexican territory are expected to benefit from the financing as FINAE works with 24 universities and over 100 campuses in Mexico.C.

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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

30.4 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

Funding Director

PHONE NUMBER

(+52 55) 5616 6946 Ext. 1006

EMAIL

jgarcia@finae.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