Company name
Munkel Lentes de Nicaragua S.A. (“Munkel”)
Project number
NI3871A-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
Nicaragua
Sector
Social Infrastructure
Status
Completed
Disclosed date
04/10/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/14/2013
Approval date
07/01/2013
Signed date
08/13/2013
Sponsoring entity
Grupo Munkel
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 700,000
Financing amount
USD $ 1,700,000
Currency
USD
Project scope and objective
Munkel, which began operations in Nicaragua in 1991, imports, manufactures, and sells optical products through retail outlets throughout Nicaragua. For over 10 years it has been the leading company in the sector.
The purpose of this IIC operation is to provide Munkel with financing to purchase state of the art machinery and digital equipment, remodel its optical shops and main offices, and provide it with working capital. The total cost of the project is US$2,775,000.
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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
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