Company name
Los Portales S.A.
Project number
PE3937A-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
Peru
Sector
Tourism
Status
Completed
Disclosed date
12/20/2012
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/22/2013
Approval date
08/09/2013
Signed date
11/19/2013
Sponsoring entity
Not applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 4,000,000
Financing amount
USD $ 3,500,000
Currency
USD
Project scope and objective
In operation since 1996, Los Portales S.A. is a Peruvian company with the following core business lines: (i) hospitality services, including the operation of five 3- to 5-star hotels catering to corporate and executive travelers (the Country Club Hotel in Lima, and the Los Portales hotels in Tarma, Piura, Chiclayo, and Cusco; (ii) real estate services, focusing on real property sales through urban land development and low-cost housing projects; and (iii) parking facilities services, including the operation, utilization, and management of its own such facilities via franchise or lease.
The IIC loan for up to US$3.5 million would be used primarily to expand and remodel facilities of the Los Portales S.A. hotel division.
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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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