Company name
Promotora Procsa S.A.P.I. de C.V.; La Casa Espacio Inmobiliario S.A. de C.V.; Casas Procsa S.A. de C.V.
Project number
12200-01
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
Mexico
Sector
Social Infrastructure
Status
Proposed
Disclosed date
05/18/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/14/2018
Approval date
07/27/2018
Signed date
11/14/2018
Sponsoring entity
Procsa Construcciones S.A. de C.V.; Impulsora Habitacional S.A. de C.V.; Arrendadora Procsa S.A. de C.V.; Servicios Integrales Procsa S.A.P.I. de C.V.; y Asesoría y Dirección de Obras, S.C.
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 8,048,760
Currency
MXN
Project scope and objective
Procsa’s core activity is the development, design, construction and sale of housing units in Mexico City and the State of Mexico, most of which are classified as middle-income housing. Since its founding more than 55 years ago, Procsa has provided housing solutions for more than 16,000 families in the country.
The operation with IDB Invest consists of a long-term financing program for MX$150 million. Its purpose will be to finance the acquisition of land for the development, construction and sale of vertical and horizontal housing in Mexico City and the State of Mexico as well as to provide financing to partially cover the company’s working capital requirements.
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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 SUMMARY
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