Company name
Iguanatours Cruceros Marítimos S.A., Galpacífico Turs S.A., y Beaglelogistics CIA. LTDA
Project number
12279-02
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
Ecuador
Sector
Tourism
Status
In implementation
Disclosed date
11/04/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/10/2023
Approval date
05/10/2023
Signed date
04/04/2024
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 7,000,000
Financing amount
USD $ 9,000,000
Currency
USD
Project scope and objective
This transaction consists of a loan of up to US$14 million to finance a growth plan for Iguanatours Cruceros Marítimos S.A., Galpacífico Turs S.A., and Beaglelogistics Cia. Ltda., co-borrowing entities that are part of the company Quasar Expeditions. It will also facilitate a series of initiatives to promote a sustainability and conservation agenda in Ecuador’s Galápagos Islands.
Quasar Expeditions is a sustainable tourism company that operates cruises and offers excursions to the Galapagos Islands in Ecuador. The funds from the loan will be used to finance the refurbishment and launch of an additional ship, the construction of an operations and logistics center, and the operation of a sailboat that will be used to provide technical and educational training to the local community in the Galapagos Islands. This transaction consists of a loan of up to US$14 million to finance a growth plan for Iguanatours Cruceros Marítimos S.A., Galpacífico Turs S.A., and Beaglelogistics Cia. Ltda., co-borrowing entities that are part of the company Quasar Expeditions. It will also facilitate a series of initiatives to promote a sustainability and conservation agenda in Ecuador’s Galápagos Islands. Quasar Expeditions is a sustainable tourism company that operates cruises and offers excursions to the Galapagos Islands in Ecuador. The funds from the loan will be used to finance the refurbishment and launch of an additional ship, the construction of an operations and logistics center, and the operation of a sailboat that will be used to provide technical and educational training to the local community in the Galapagos Islands.
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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.
QUASAR – ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
348.2 Kb
QUASAR – ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
133.1 Kb