Company name
Popup Design, S. de R.L. de C.V. and Popup Design Inc. (“GAIA”)
Project number
12885-01
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
04/15/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/19/2020
Approval date
07/14/2020
Signed date
09/18/2020
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 15,000,000
Currency
USD
Project scope and objective
This financial transaction consists of supporting the expansion of Popup Design, S. de R.L. de C.V. (“GAIA” or “the Company”) using a convertible debt instrument for a minimum of USD 10 million or up to USD 15 million with a term of up to 24 months or until automatic conversion (whichever comes first) in shares to be issued during the next investment round (the “C-Series Round”), (the “Convertible Debt”). Support for GAIA entails strengthening its expansion in order to leverage its large installed capacity and supply chain—which consists of Mexican micro, small, and medium-sized enterprises (“MSMEs”) that specialize in the manufacture of design furniture—combined with the marketing and distribution of such furniture through a digital platform (application or app) complemented by brick-and-mortar stores (the “Project”). More information regarding the Project can be accessed through the following electronic link: https://www.gaiadesign.com.mx
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
GAIA -ENVIRONMENTAL AND SOCIAL ACTION PLAN 0.PDF
174.1 Kb
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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
73.9 Kb