Company name
Elcatex, S. de R.L. de C.V. and San Juan Textiles S. de R.L. de C.V.
Project number
13889-01
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
Honduras
Sector
Manufacturing
Status
In implementation
Disclosed date
03/23/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/06/2022
Approval date
05/06/2022
Signed date
06/17/2022
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 15,000,000
Financing amount
USD $ 25,000,000
Currency
USD
Project scope and objective
Elcatex, S. de R.L. de C.V. (“ELCATEX”) and San Juan Textiles, S. de R.L. de C.V. are two textile companies that produce fabrics cut them and sew clothing for export.
The transaction consists of https://idbinvest.org/en/news-media/idb-invest-keeps-promoting-honduras-sustainable-textile-sector-elcatex-group-financinga long-term senior guaranteed loan for ELCATEX and San Juan Textiles, S. de R.L. de C.V. The Project’s objectives are: (i) to support economic growth and export diversification; (ii) to finance capital investment and working capital for the construction and adaptation of auxiliary civil works, and the acquisition of textile machinery to increase production of the San Juan Textiles plant located at the San Juan Innovation Park Export Processing Zone (“EPZ”) in Choloma; and (iii) to purchase sewing equipment and refurbish sewing plants in Honduras.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
azucena@elcatex.com
PHONE NUMBER
+504 9991-5728
POST OFFICE ADDRESS
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(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
ELCATEX AND SJT - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
675.8 Kb
ELCATEX AND SJT - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
532.5 Kb