Company name
Industria de Enlatados Alimenticios Cía. Ltda. (“Ideal”)
Project number
EC3903A-01
N/A
E&S category
N/A
Country
Ecuador
Sector
Agribusiness
Status
Hold
Disclosed date
11/07/2014
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/09/2014
Approval date
12/19/2014
Signed date
N/A
Sponsoring entity
Not applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 12,516,000
Financing amount
USD $ 12,000,000
Currency
USD
Project scope and objective
The IIC loan will be used to refinance the acquisition of the tuna vessel “Cabo Marzo”, which has a capacity of 1,200 metric tons; to renovate and modernize the vessel; and to purchase and transfer the relevant international fishing license or quota.
Ideal is an Ecuadorian family-owned company based in Montecristi, close to Manta. It was established in 1973 and has a long national and international history in the tuna fishing and processing industry, as well as in tuna canning and other areas.
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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
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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.
ENVIRONMENTAL AND SOCIAL REVIEW
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