Company name

Operaciones Familiares S.A. (“OFASA”)

Project number

NI3889A-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
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C

Country

Nicaragua

Sector

Manufacturing

Status

Completed

Disclosed date

09/02/2014

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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10/07/2014

Approval date

10/08/2014

Signed date

11/26/2014

Sponsoring entity

N/A

Team leader

Vera Fabbri, Pablo Marcelo

Investment type

Financing requested

N/A

Syndicated amount

USD $ 200,000

Financing amount

USD $ 1,000,000

Currency

USD

Project scope and objective

The objective of this IIC operation is to fund the partial renovation of Budget Rent a Car Nicaragua’s fleet of vehicles during the 2014-2015 period.

OFASA is a company owned by the Solórzano family. It was founded in the 1970s. OFASA has the Budget Rent a Car franchise in Nicaragua. It currently has a fleet of about 400 vehicles at 10 different locations.

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices