Company name
Paladin Realty Partners
Project number
13426-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Regional
Sector
Investment Funds
Status
Inactive
Disclosed date
07/29/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/12/2021
Approval date
10/12/2021
Signed date
12/01/2021
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 8,750,000
Financing amount
USD $ 1,250,000
Currency
USD
Project scope and objective
IDB Invest is considering an investment of up to US$10 million (including a US$5 million Blended Finance ("BF") equity participation with resources from the Climate Investment Funds and additional resources from IDB Invest's administered funds) in the Paladin Realty Latin America VI (Zero Carbon Affordable Housing) Fund (the “Fund”). The Fund will invest in the development of sustainable affordable housing, focusing on the development of dwellings that comply with the Excellence in Design for Greater Efficiencies (“EDGE”) standards, a green building certification system focused on making buildings more resource-efficient, providing savings to homeowners of at least 20% on energy, water, and embodied energy in materials vis-à-vis traditionally constructed homes. The BF investment aims at incentivizing the Fund to reach the highest level of EDGE certification, EDGE Zero Carbon, across the Fund's portfolio of assets.
The Fund will be managed by Paladin Realty Partners, an established investment manager with more than 20 years of experience in the development of housing in the region.
The Project aims at increasing the availability of capital for the development of sustainable housing, undertaken by mid-sized developers, and targeting middle-income populations of Mexico, Colombia, Brazil, and Peru.
The impact story of this project was highlighted on our 2021 Annual Report.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
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.
UPDATED ESRS PALADIN ENG AS ABS
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